A.M. Best Affirms Credit Ratings of Ghana Reinsurance Company Limited
The ratings reflect Ghana Re’s balance sheet strength, which
Ghana Re’s very strong balance sheet is underpinned by risk-adjusted capitalisation, which, as measured by Best’s Capital Adequacy Ratio (BCAR), is at the strongest level. Prospective capital requirements are driven by the company’s aggressive growth strategy and a high level of asset risk due to the concentration of its investments in
Ghana Re has a track record of positive operating results, which are considered adequate when the high level of inflation in its key markets is taken into account. Underwriting results have been volatile, principally due to weather-related losses. In 2016, the company reported a return on equity of 11.8%, underpinned by a high investment return, foreign exchange gains and a small underwriting profit (combined ratio of 97%).
Ghana Re has a good competitive position in
Ghana Re has a high risk profile driven by its exposure to political, economic and financial system risk in the countries in which it operates (mainly
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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