Sunday, September 28, 2025
28.4 C
Lagos

A.M. Best Upgrades Africa Re to ‘A’ Rating

A.M. Best has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the issuer credit rating to “A” from “A-” of African Reinsurance Corporation (Africa Re) (Nigeria).

The outlook for each rating has been revised to stable from positive.

The upgrade reflects Africa Re’s excellent risk-adjusted capitalisation, consistently strong operating performance, and robust market position in the increasingly competitive African reinsurance sector.

Additionally, the ratings factor in the framework in place to mitigate Africa Re’s exposure to the heightened political and economic instability on the continent.

A.M. Best is the leading specialist insurer rating agency publishing ratings on re/insurance companies in more than 85 countries worldwide and a provider of industry research, news and analysis on the insurance markets around the globe.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

Greenpeace Ranks Top 5 SA Retailers on 100% Renewable Energy Vision

South Africa’s top five retailers (Pick n Pay, Massmart,...

CIoD Lauds NDIC’s Commitment to Corporate Governance, Ethical Leadership

L-R: MD/CE, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan,...

Leadway Holdings Champions Festive Safety with the ‘December On-Lock Campaign’

Leadway Holdings, one of Nigeria's leading non-banking financial services...

Optimism Reigns in 2015 Insurance Industry Outlook

Despite falling oil prices and post-election uncertainties,the Nigerian insurance sector is looking into the future with broad optimism and confidence. Mr. Fola Daniel, Commissioner for Insurance, National Insurance Commission (NAICOM) says the industry is undergoing rapid transformation, thus requiring the strategic support of operators and other relevant stakeholders to enable the industry occupy its rightful position in the forefront of the financial services sector in Nigeria.

CTO Appoints 1st Female Secretary-General in 120 Years

The Executive Committee of the Commonwealth Telecommunications Organisation (CTO)...

Ecobank Named ‘Best Retail Bank in Nigeria 2020’ – Asian Banker Awards

Ecobank Nigeria has been named the Best Retail Bank...

Firm to Develop Affordable Homes for Calabar Residents

An indigenous firm, Turn – Over Plus Limited, is set to develop a housing estate, Green City Estate, Calabar, Cross River State, in an effort to boost the housing stock in the state. The Green City Estate is located in Ikot Offfiong, Ambia, said to be the most serene part of Calabar metropolitan city, with a clean, beautiful, well developed infrastructure, hospitable and good safety and security facility. The Green City Estate which will be fully flagged off in August, currently houses a number of two to three bedroom apartments spread over three bays, just as duplexes are also been developed. Apart from the planned modification of the existing structures to meet the green city codes, the management of the city plans to develop additional 140 future homes within the next 12 months.

‘INSURANCE FIRST Model Will Deliver 5-Point Agenda’

Mr. Tope Smart, the new chairman, Nigerian Insurers Association...
spot_img

Related Articles

Popular Categories

spot_imgspot_img