Agusto & Co. affirms Unitrust Insurance Company Limited’s ‘Bbb+’ rating, with a stable outlook.
The rating expires on 30 June 2023.
Agusto & Co. hereby affirms the ‘Bbb+’ rating assigned to Unitrust Insurance Company Limited (‘Unitrust’ or ‘the Underwriter’ or ‘the Insurer’). The rating reflects Unitrust’s experienced management team, good capitalisation and good liquidity profile. However, constraining the assigned rating is the Insurer’s subpar profitability, low investment returns and the prevailing macroeconomic headwinds.