Fitch upgrades ASR Re’s rating

Fitch Ratings has upgraded the Insurer Financial Strength (IFS) Rating of ASR Re, the Bermuda-based reinsurer and a member of Africa Specialty Risks (ASR), from "BBB+" to "A-", with a stable outlook.

The upgrade reflects the company's strengthened business profile, supported by the continued expansion of its operations across Africa and other emerging markets.

According to Fitch, the acquisition of Africa Specialty Risks by Vitruvian Partners, announced in June 2026, reinforces the group's growth strategy and strengthens ASR Re's capital base.