Kenya Reinsurance Corporation

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Kenya Reinsurance Corporation Limited (2022-03)
  • Kenya Reinsurance Corporation
  • Year : Mar 2022
3 Tokens
USD 300.00

Risk adjusted capitalisation represents a key rating strength, reflected by a strong capital base built on consistent internal capital generation and adequate dividend distribution. In this respect, the capital base grew to KES34bn at FY20 compared to KES22bn reported at the beginning of the review period. Accordingly, both the GCR capital adequacy ratio (“CAR”) and the statutory CAR was sustained above 2.5x. The entity’s ability to maintain capital buffers and absorb aggregate risk exposures is expected to be sustained over the outlook horizon.

Additional Information

The Stable Outlook reflects our expectations that the financial profile will remain very strong, underpinned by strong risk adjusted capitalisation and liquidity, while earnings pressure at underwriting level may continue to be balanced by investment income. No significant change in the business profile is expected. Positive rating movement is unlikely over the medium term. Nevertheless, sustained demonstration of well contained claims experience from both the general and life businesses impacting favourably on underwriting profitability, while other credit protection metrics are sustained at similar levels, will be viewed positively.

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