Unitrust Insurance Company Limited’s credit rating has been upgraded from “Bbb+” to “A-” and a stable outlook has been attached to the rating by Agusto & Co.
The insurer said this significant achievement underscores the company’s good capitalisation on the back of strong shareholders’ support, good liquidity profile and improving investment returns.
The management of Unitrust Insurance Company Limited added that the “A-” rating from Agusto & Co reflects Unitrust Insurance’s good financial condition and strong capacity to meet its obligations relative to all other insurance companies in Nigeria.
Agusto & Co is a leading independent rating agency in Nigeria, providing credit ratings and credit risk management and research to a wide range of organisations, and the company’s ratings are based on rigorous analysis and evaluation of financial performance, risk management practices, and corporate governance.
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