The Board are pleased to announce that Moody’s has assigned Klapton Re an initial Insurance Financial Strength (IFS) rating of Caa3 with a stable outlook. The rating, which is a grade above the sovereign rating of Zambia, reflects our excellent business profile, aggressive growth strategy and strong capitalisation. In addition, it reflects our commitment to increase capitalisation in the medium to long term to support the projected business growth.
Klapton Re is committed to focus on growing our business and developing relationships with new and existing clients together with other strategic targets which we hope will lead to improvement in the company’s rating in subsequent assessments.
The Board would like to thank our management and staff for their tireless work to obtain this initial rating.
Webster Twaambo, Jr.
Managing Director & CEO
June 2022
