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Standard & Poor's confirms Africa Re's "A -" rating

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Magazine Issue: 
The pandemic risk, insurers’ future Eldorado [3]
Magazine date: 
Jul 2020

Afirca ReStandard & Poor's [4] confirms Africa Re's financial strength rating of "A -" with a stable outlook. The rating agency justified its decision by the strength of the reinsurer's financial risk profile, its strong position in the African market and its limited exposure to Covid-19 risks. The rating also reflects the company's good reputation in Africa.

In 2019, Africa Re reported a 219.6% increase in its net result which amounted to 99.1 million USD. Its turnover, on the other hand, stood at 845 million USD by late 2019.

Read also | Africa Re: results 2019 [5]

Fri, 21/08/2020 - 11:50

Source URL: https://www.atlas-mag.net/en/article/standard-poor-s-confirms-africa-re-s-a-rating

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[4] https://www.atlas-mag.net/en/article/standard-poor-s-rating-scale
[5] https://www.atlas-mag.net/en/article/africa-re-42nd-ordinary-general-assembly-and-results-2019