Zimbabwean insurer downgraded

A Zimbabwe-based financial services company’s national scale financial strength rating has been downgraded to A-(ZW) from A(ZW), with an evolving outlook by a rating agency.

FBC Reinsurance Company has been downgraded on deterioration in its risk adjusted capitalisation on an inflation adjusted basis.

The evolving outlook reflects the uncertainties presented by the operating environment which could result in earnings strain, negatively impacting risk adjusted capitalisation and liquidity.

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