Africa Specialty Risks (“ASR”), the pan-African focused reinsurance group, has announced that AM Best have awarded ASR Re Limited (ASR Re) (Bermuda) a Financial Strength Rating of “B++” and a Long-Term Issuer Credit Rating of “bbb+”. The outlook of the rating is stable. AM Best based the rating of ASR Re on the group’s consolidated balance sheet strength, which the agency assessed as very strong, as well as ASR’s adequate operating performance, limited business profile and appropriate enterprise risk management. The rating reflects the strategic importance of ASR Re to the ASR group. ASR Re will also provide reinsurance protection to its subsidiary Africa Specialty Risks Reinsurer (Mauritius), in addition to writing third-party reinsurance. Click here to read more.