Agusto & Co. affirms the “A+” rating and stable outlook assigned to Zenith General Insurance Company Limited

Rating Category: Insurance Companies

Agusto & Co. affirms the “A+” rating and stable outlook assigned to Zenith General Insurance Company Limited

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.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.
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