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Agency puts Kenya Re rating under review
Auditor-General Edward Ouko in an audit report of the re-insurer for its 2017 full-year accounts raised doubts on the re-insurer’s revenue recognition format. FILE PHOTO | NMG
Johannesburg agency GCR has placed placed Kenya Reinsurance Corporation’s #ticker:KNRE national scale claims paying ability rating of AA(KE) and international scale claims paying ability rating of BB “under review”.
“While the ratings are expiring today (last week), GCR is currently engaging with the rated entity and expects to update the current ratings and publicly release them by the end of September 2018,” said the GCR on August 1 without divulging additional information.
