AM Best confirms the rating of Zep Re

AM Best has confirmed Zep Re's financial strength rating of B++ (good) and long-term issuer credit rating of bbb. The outlook for both ratings is stable.

According to the rating agency, the Kenyan reinsurer is displaying a good operating performance. On annual average, the return on equity (ROE) over five years (2015-2019) stands at 9.4%.

The rating reflects Zep Re's balance sheet strength, its neutral business profile and its marginal enterprise risk management.

AM Best is taking into consideration the company's significant exposure to the high risks of the economic, political and financial system in Kenya and other major reinsurance markets.