AM Best confirms Africa Re’s rating

AM Best confirmed the financial strength rating of A- (Excellent) and the a- credit rating of the reinsurer Africa Re with stable outlook for both ratings. The rating agency welcomes the reinsurer’s high level of adjusted-risk capitalization, its strong underwriting results and its good market position in Africa. In addition, the increase in capital begun in 2011 and which is set to continue in 2012, will allow sales to grow.