S&P upgrades Africa Re's rating

Standard & Poor's (S&P) has raised Africa Re's financial strength and long-term credit ratings from “A-” to “A,” with a stable outlook.

The upgrade reflects the reinsurer’s strong operating performance, solid underwriting results, rigorous risk management, diversified pan-African footprint, and well-established reputation in certain global markets.

The rating agency's decision is also supported by the company’s capacity to meet its obligations and build reliable partnerships.

Africa Re continues to lead the African reinsurance market, recording a turnover of 1.214 billion USD in 2024.