Kenya Reinsurance Corporation Limited (Kenya Re) today announced that GCR Ratings, an affiliate of Moody's, has affirmed the Corporation's international and national scale financial strength ratings at B and AA+(KE) respectively. 

Both ratings carry a Stable Outlook. The affirmation reflects Kenya Re's strengthened capital position, which GCR placed at US$460.3 million (KSh 59.49 billion), supported by sound earnings retention. GCR furtherto indicated that it expects Kenya Re's liquidity to remain within the same strong range over the near term, underpinned by consistent positive earnings generation and prudent liquidity management practices. 

GCR Ratings is a pan-African credit rating agency, headquartered in Johannesburg, South Africa, and an affiliate of Moody's, one of the world's leading providers of credit ratings, research and risk analysis. GCR's financial strength ratings are a widely used reference point for insurers, reinsurers, brokers and regulators across Africa when assessing an institution's ability to meet its policyholder and treaty obligations. 

For a reinsurer such as Kenya Re, an affirmed rating of this kind is a material signal to the broader market: it speaks directly to counterparty security, underpins the terms on which cedants and brokers are willing to place business, and factors into the capacity and competitiveness of a reinsurer's participation in treaty programmes across the region and beyond. 

“This affirmation is an independent, external validation of what has always underpinned Kenya Re, a strong capital base, disciplined underwriting and consistent earnings. It reaffirms our position as the leading reinsurer in this region and reflects the sound fundamentals that continue to guide this institution. To our shareholders, cedants and partners across Africa, Asia and the Middle East, this is a clear signal: Kenya Re is solid, well-capitalised and firmly focused on its next phase of growth,” said Dr. Hillary M. Wachinga – Managing Director and Chief Executive Officer , Kenya Reinsurance Corporation.

Kenya Re's ratings affirmation lands alongside continued regional expansion, with the Corporation advancing new offices in Tanzania and Rwanda, and sustained investment across its subsidiaries in Zambia, Uganda and Côte d'Ivoire. 

Together with its FY 2025 results, the shareholders' funds up 9.7% to KSh54.5 billion and total assets of KSh72.2 billion, the affirmation reinforces Kenya Re's standing as the region's leading reinsurer at a time of sustained institutional growth. The rating action comes as Kenya Re continues to deepen its footprint across 84 countries and 485 insurance companies globally, underscoring a track record of resilience, financial discipline and stability that shareholders, cedants and industry partners have come to expect of the Corporation over more than five decades in business. Kenya Re thanks its shareholders, cedants and industry partners for their continued confidence and trust.