Rating Release
Agusto & Co. assigns an ‘A-’ (long term) and ‘A1’ (short term) ratings to SUNU Assurances Nigeria Plc with a stable outlook
The rating expires on 30 June 2026.
Agusto & Co. hereby assigns an “A-” (long term) and “A1” (short term) ratings to SUNU Assurances Nigeria Plc (‘SUNU Assurances’ or ‘the Insurer’ or ‘the Company’) on the back of improved profitability, good liquidity profile, good capitalisation and membership of a Pan-African insurance group. However, suppressing the assigned ratings are the Insurer’s low market share, weak macroeconomic fundamentals and low insurance uptake in Nigeria.
