GCR Ratings (GCR) has upgraded the national scale claims paying ability rating assigned to ZEP-RE (PTA Reinsurance Company) to AAA(KE) up from AA+(KE), with the outlook accorded as Stable. In a statement, GCR Ratings said ZEP-RE’s new rating was a function of the reinsurer’s exposure to comparatively riskier markets, counterbalanced by support through preferential treatment and healthy membership strength and diversity. “The reinsurer’s mandate is fairly strong, given its position as an established reinsurer within the Common Market for Eastern and Southern Africa (COMESA) region,'' GCR Ratings said. "We are extremely proud to have received this rating upgrade and of the signal it sends to our stakeholders across the continent. It is fitting to receive this rating upgrade just a few days after celebrating our 25th year of operation in COMESA,'' Murera said.

Source: The Star January 14, 2020 00:56 UTC