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 strong financial position, citing improved capital, stable earnings and healthy liquidity.
In its latest assessment, GCR affirmed Kenya Re’s international financial strength rating of B and its national scale financial strength rating of AA+(KE) with a Stable Outlook, indicating confidence that the corporation will maintain its financial strength over the medium term.
According to the ratings agency, Kenya Re has continued to strengthen its capital position through retained earnings, with total capital increasing to US$460.3 million (Sh59.49 billion). GCR also noted that the reinsurer is expected to maintain strong liquidity levels, supported by consistent profitability and prudent financial management.
Financial strength ratings are an important indicator of a reinsurer’s ability to meet policyholder obligations and settle claims. The ratings also influence insurers’ decisions on where to place their reinsurance business and enhance a company’s competitiveness in both local and international markets.
The reaffirmation comes as Kenya Re accelerates its regional expansion strategy amid growing competition in Africa’s reinsurance sector. The corporation is planning to establish new offices in Tanzania and Rwanda while strengthening its regional footprint through existing subsidiaries in Uganda, Zambia and Côte d’Ivoire.
Kenya Re Managing Director and Chief Executive Officer Hillary Wachinga said the ratings demonstrate the corporation’s strong financial foundation and disciplined underwriting practices.
The corporation also recorded improved financial performance for the year ended December 2025. Shareholders’ funds increased by 9.7 percent to Sh54.5 billion, while total assets rose to Sh72.2 billion, reflecting continued growth in its balance sheet.
Kenya Re currently operates in 84 countries and provides reinsurance services to 485 insurance companies across Africa, Asia and the Middle East, reinforcing its position as one of the region’s leading reinsurance providers.
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