Rating Release
Agusto & Co. affirms the “A+” rating and stable outlook assigned to Zenith General Insurance Company Limited
The rating expires on 30 June 2023.
Agusto & Co. affirms the ‘A+’ rating assigned to Zenith General Insurance Company Limited
(“ZGIC” or “the Underwriter” or “the Insurer”). The rating is underpinned by the Insurer’s strong capital base, good liquidity profile and experienced management team. ZGIC’s bancassurance partnership with Zenith Bank Plc, one of Nigeria’s largest banks by total assets with over 360 branches nationwide also supports the rating. Offsetting these positive rating factors are the prevailing macroeconomic headwinds and the low insurance adoption in Nigeria.