ZEP-RE maintains its good credit rating
ZEP-RE has retained its “AA” local rating and “BBB-“international credit for the year 2005.
Factors contributing to this good rating included the fact that; -
- The Company’s shareholding is widely distributed which served to significantly insulate it from sovereign risk factors that may otherwise apply in the region.
- The Company’s high degree of currency matching between its income/assets and liabilities and the solid underwriting performances over the past three years, coupled with the company’s strong liquidity position, and
- The credit quality of ZEP-RE’s retrocession programme combined with the fact that the lead retrocessionaires on the excess of loss programme were rated at least A.
The rating was conducted by the Global Credit Rating Company, a leading rating agency that focuses specifically on emerging markets and accounts for over 60% of all ratings accorded on the African continent, and has an operational presence in Southern, Eastern and Western Africa.
|
