- ZEP-RE (PTA Reinsurance Company) Limited’s (“ZEP-RE”) favourable strategic position, given its mandate and equity participation of 14 countries, was positively viewed.
- The reinsurer’s well capitalized balance sheet, as reflected by the international solvency ratio of 48% in which was achieved despite high growth in net premiums.
- The historically high level of liquidity, as evidenced by the claims cash coverage ratio of 18.4%.
Notwithstanding the improved underwriting performance, cognisance was taken of the volatility of ZEP-RE’s underwriting performance over the review period.
- Underwriting discipline and cost control were considered and held paramount to the long term sustainability of the Company’s business.
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