Kenya Re: A.M. Best rating

A.M. Best confirmed Kenya Re's long-term credit rating of bb+ and revises the outlook on this rating from stable to negative. The agency justified its decision by the poor technical performance of the reinsurer over the last few years.

Meanwhile, the agency affirmed the Financial Strength Rating of B and maintained the outlook as stable.

According to A.M. Best, the maintenance of both ratings reflects the strength of the reinsurer's balance sheet, its adequate operating performance and its neutral business profile.

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