GCR assigns Klapton Re initial international and national scale financial strength ratings of CCC and BB(ZM), respectively (Stable Outlook).

Klapton Reinsurance Limited wishes to announce its first-time international scale rating of CCC (outlook stable), national scale BB(ZM) (outlook stable) by Global Credit Rating (GCR), who have recently been acquired by Moody’s, effective March 16, 2022.

This initial rating issued shortly after the company’s commencement of operations on October 1, 2021, provides market confidence that the security has an accredited rating. This is expected to boost premium uptake and assist the company focus on underwriting premium level risks to drive a positive risk profile further.

Klapton Re will now focus on production and areas that will ensure an improvement in the company’s rating by the subsequent assessment, based on factors indicated by GCR.

The board would like to thank Klapton Re’s management and staff for the work put in to secure this initial rating within the first six months of commencing operations.

Webster Twaambo, Jr.

Managing Director & CEO

 March 2022