Dr Hillary M. Wachinga – Managing Director and Chief Executive Officer, Kenya Reinsurance Corporation/FILE
Kenya Reinsurance Corporation (Kenya Re) has retained its international and national scale financial strength ratings after GCR Ratings affirmed the Corporation's ratings at B and AA+(KE), both with a Stable Outlook.
The ratings agency attributed the affirmation to Kenya Re's strengthened capital base, supported by sound earnings retention and prudent liquidity management.
The announcement, made on July 28, 2026, highlights Kenya Re's improved financial position. GCR placed the Corporation's capital at US$460.3 million (Sh59.49 billion) and said it expects liquidity to remain strong in the near term, backed by consistent positive earnings generation and disciplined liquidity management.
GCR Ratings, an affiliate of Moody's and a leading pan-African credit rating agency, said its financial strength ratings are widely used by insurers, reinsurers, brokers and regulators to assess an institution's ability to meet policyholder and treaty obligations.
For a reinsurer, such ratings also influence market confidence, business placement and competitiveness across regional treaty programmes.
Kenya Re Managing Director and Chief Executive Officer Dr Hillary M Wachinga described the affirmation as a significant endorsement of the Corporation's financial position.
"This affirmation is an independent, external validation of what has always underpinned Kenya Re, a strong capital base, disciplined underwriting and consistent earnings."
He added that the rating "reaffirms our position as the leading reinsurer in this region" and sends "a clear signal: Kenya Re is solid, well-capitalised and firmly focused on its next phase of growth."
The ratings affirmation comes as Kenya Re continues its regional expansion.
The Corporation is developing new offices in Tanzania and Rwanda while maintaining investments in its subsidiaries in Zambia, Uganda and Côte d'Ivoire.
The development also coincides with Kenya Re's FY2025 performance, which saw shareholders' funds rise by 9.7% to Sh54.5 billion and total assets reach Sh72.2 billion.
According to the Corporation, the affirmation reinforces its position as the region's leading reinsurer during a period of sustained institutional growth.
Kenya Re currently operates across 84 countries and works with 485 insurance companies globally.
The Corporation said the latest rating reflects its long-standing record of resilience, financial discipline and stability, while expressing appreciation to its shareholders, cedants and industry partners for their continued confidence and trust.
