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Reinsurance Plaza in Nairobi.[File,Standard]
Moody’s has affirmed Kenya Reinsurance Corporation Limited (Kenya Re) international and national scale financial strength ratings at B and AA+(KE) respectively, which carry a stable outlook for the business.
Kenya Re says the affirmation by Moody’s affiliate, GCR Ratings, reflects the reinsurer’s strengthened capital position, placed at Sh59.49 billion ($460.3 million), supported by sound earnings retention.
GCR Ratings further indicated that it expects Kenya Re's liquidity to remain within the same strong range over the near term, underpinned by consistent positive earnings generation and prudent liquidity management practices.
