East Africa Reinsurance Company Limited

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East Africa Reinsurance Company Limited (2021-09)
  • East Africa Reinsurance Company Limited
  • Year : Sep 2021
3 Tokens
USD 300.00
Summary

East Africa Reinsurance Company Limited’s (“EA Re”) ratings balance a very strong and stable financial profile, moderate exposure to relatively weaker operating environments, and an intermediate market position. Over the past five years, EA Re’s capital base continued to advance, underpinned by sound earnings generation and retention. In this respect, the reinsurer posted after tax profits totalling KES2.7bn over the corresponding period, retaining c. 83% in the business, which in turn promoted capital growth to KES5.4bn at the close of FY20 (beginning of FY16: KES3.0bn).

Additional Information

The Stable Outlook reflects the likelihood of sustained financial profile strength, coupled with the absence of material changes in the business profile. Consequently, very strong risk adjusted capitalisation will continue to anchor company specific assessment factors, with further support from liquidity and earnings. Upward ratings progression may follow a sustainable improvement in the business profile, coupled with the maintenance of other credit protection metrics within strong ranges.

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