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Moody’s has upgraded the Financial Strength Rating of Bermuda-based reinsurance company ASR Re, a member of Africa Specialty Risks (ASR), from “Baa1” to “A3,” with a stable outlook.
The upgrade is driven by ASR Re’s strong underwriting performance, its disciplined growth strategy in emerging markets and its solid financial position.
Moody’s also highlights the quality of the company’s asset portfolio, along with its financial and operational flexibility.
