Capital and Ratings

Since its inception, the company has experienced significant growth in its operations. It has expanded from underwriting in just five markets within the region to currently covering 55 countries across Africa and beyond. Over the years, there has been a notable increase in premiums, investments, and profits. In 1993, the Gross Premium Income (GPI) amounted to USD 5 million, and in 2022, it reached a substantial figure of USD 236.2 million. The shareholders’ funds have also seen impressive growth, starting at USD 3 million in 1993 and soaring to USD 309.3 million in 2022. The company’s assets have seen remarkable expansion, surging from USD 4 million to a substantial USD 500 million presently.

ZEP-RE obtained its first ratings from two prominent rating agencies. In 2004, it received a Claims Paying Ability rating of AA from GCR (Global Credit Rating). In 2008, AM Best (A.M. Best Company) assigned a Financial Strength Rating (FSR) of B (Fair). In 2011, AM Best upgraded the FSR to B+, and in 2016, it further upgraded the FSR to B++. Similarly, in 2016, GCR upgraded the claims paying ability rating to AA+(KE ), reflecting the company’s strong ability to fulfill its obligations. These rating upgrades demonstrate the company’s continuous improvement and enhanced financial stability.