Magazine date:
Oct 2008 A.M. Best Co. has confirmed the financial solidity, A- rating (excellent) with stable outlook , of the African Reinsurance Corportaion (Africa Re) whose headquarter is in Nigeria.
Standard & Poor's, on its part, has awarded the BBB+ rating to the African reinsurance leader. In a statement, both rating agencies have pinpointed Africa Re's excellent competitive position as well as the stability of its operational results with a combined ratio of 97.9% and a premium volume of 370 million USD. Analysts have also praised the company's top capitalisation level.