Rating Release
Agusto & Co. affirms the ‘Bbb’ rating assigned to Anchor Insurance Company Limited, with a stable outlook
The rating expires on 30 June 2024.
Agusto & Co. hereby affirms the ‘Bbb‘ rating assigned to Anchor Insurance Company Limited (‘Anchor Insurance’ or ‘the Company’ or ‘the Insurer’). The rating reflects the Insurer’s strong shareholder support, good liquidity profile and good solvency capability. However, offsetting these positive factors are the Insurer’s rising operating cost and the impact of the prevailing macroeconomic headwinds on Nigerian businesses.
