AM Best upgrades Africa Re

AM Best has upgraded the financial strength rating of Africa Re
(Nigeria) to A from A-, it announced today (10 June).
The outlook has also been revised to stable from positive.
"The upgrade reflects Africa Re's excellent
risk-adjusted capitalisation, consistently strong operating
performance, and robust market position in the increasingly
competitive African reinsurance sector," AM Best said.
"Additionally, the ratings factor in the framework in place
to mitigate Africa Re's exposure to the heig