AM Best confirms East Africa Reinsurance Company's rating

EAST AFRICAAM Best has affirmed East Africa Reinsurance Company's (EARe) "B" (fair) financial strength and "bb+" (fair) long-term credit ratings. The outlook for both ratings remains stable.

The rating reflects the company's strong balance sheet, adequate operating performance and appropriate enterprise risk management.

In 2021, the Kenyan reinsurer recorded a 39 million USD turnover. The average combined ratio over the 2017-2021 period stood at 99% and the return on equity (ROE) at 10%.

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