AM Best has placed under review with negative implications the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" (Fair) of Ghana Reinsurance PLC (Ghana Re) (Ghana). The Credit Rating (rating) actions follow the delay in Ghana Re providing financial information for 2024.
The under review with negative implications status reflects the uncertainty regarding Ghana Re's financial position considering the lack of information related to its performance to date in 2024.
The ratings are expected to remain under review with negative implications until AM Best has received 2024 financial information for Ghana Re and subsequently has assessed the company's rating fundamentals in light of this information.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241101260586/en/
Contacts:
Naz Botea, ACA
Financial Analyst
+44 20 7397 0313
naz.botea@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Kanika Thukral
Associate Director, Analytics
+44 20 7397 0327
kanika.thukral@ambest.com
Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com
