Kenya Reinsurance Corporation (Kenya Re) has retained its international and national financial strength ratings after GCR Ratings, an affiliate of Moody’s Ratings, reaffirmed the reinsurer’s credit profile, citing a stronger capital base, stable earnings and solid liquidity.
GCR affirmed Kenya Re’s international financial strength rating at B and its national scale financial strength rating at AA+(KE), maintaining a Stable Outlook, indicating expectations that the company’s financial position will remain resilient over the medium term.
The ratings agency said Kenya Re’s capital position has continued to strengthen through retained earnings, with total capital rising to US$460.3 million (KSh59.49 billion). It added that the reinsurer is expected to maintain healthy liquidity, supported by consistent profitability and prudent balance sheet management.
Financial strength ratings are a key measure of a reinsurer’s ability to meet policyholder obligations and settle claims. They also influence insurers’ decisions on where to place reinsurance business and affect a company’s competitiveness in domestic and international markets.
The affirmation comes at a time when Kenya Re is seeking to deepen its regional presence amid growing competition in Africa’s reinsurance industry. The corporation is expanding into new markets, with offices planned in Tanzania and Rwanda, while strengthening operations through subsidiaries in Uganda, Zambia and Côte d’Ivoire.
Kenya Re Managing Director and Chief Executive Officer Hillary Wachinga said the rating reflected the company’s financial stability and underwriting discipline.
The corporation posted improved financial results for the year ended December 2025, with shareholders’ funds increasing 9.7 per cent to KSh54.5 billion, while total assets grew to KSh72.2 billion.
Kenya Re currently operates in 84 countries and provides reinsurance services to 485 insurance companies across Africa, Asia and the Middle East.
Established in 1970 and listed on the Nairobi Securities Exchange (NSE), Kenya Re is Kenya’s only listed reinsurer. The National Treasury remains its largest shareholder with a 60 per cent stake.
