The Board is pleased to announce that Moody’s has upgraded Klapton Re’s Insurance Financial Strength (IFS) rating to Caa2 from Caa3, and the outlook remains stable. This upgrade follows Moody’s upgrade of the Government of Zambia’s local currency (LC) long-term issuer rating to Caa3 from Ca, with a stable outlook.
This positive development underscores Klapton Re’s commitment to financial resilience and aligns with the improving economic landscape of Zambia. The upgrade in rating reflects enhanced confidence in Klapton Re’s financial stability and the broader economic prospects of the region. It equally reaffirms our steadfast dedication to maintaining a solid financial foundation and fortifying our contribution to the region’s economic growth.
We thank our dedicated management and staff for their relentless efforts.
Webster Twaambo, Jr.
Managing Director & CEO
August 2023
