Lusaka-based Finsbury Reinsurance has been assigned an 'A' rating on the National Scale and a 'B' rating on the International Scale by Dubai-headquartered International Credit Rating Agency (ICRA).
“This is a significant milestone for a company licensed in 2024 and now writing business across more than 60 countries in Africa, Asia, the Middle East, and Latin America, serving over 300 cedants and 90 brokers,” said the reinsurer in a media statement.
Finsbury Re was incorporated on 27 July 2023 in Zambia. It is licensed and regulated by the Pensions and Insurance Authority (PIA) to provide reinsurance services. Finsbury Re is majority-owned by the private investment group, Finsbury Investments, incorporated in 1981. Finsbury Investments owns over 20 companies in sectors as diverse as banking, financial services, insurance, information technology, hotel & tourism, mining & quarrying, manufacturing, and property development.
“The ratings reflect the company’s sound financial position, strong governance framework, and capacity to deliver reliable reinsurance solutions across its operating markets,” said Finsbury Re.