Rating Release
Agusto & Co. assigns “Bb-” (long term) and “B” (short term) ratings to emPLE Life Assurance Limited (“emPLE Life” or “the Company” or “the Insurer”), with a stable outlook
The rating expires on 30 June 2026.
Agusto & Co. assigns ‘Bb-‘ (long term) and ‘B’ (short term) ratings to emPLE Life Assurance Limited (’emPLE Life‘ or ‘the Company’ or ‘the Insurer‘) based on the adequate capitalisation and liquidity profile. We also considered the bancassurance agreement with Ecobank Nigeria Limited, a mid-tier bank with over 250 branches a positive rating factor. However, weak profitability, low investment returns and the negative operating cash flow constrained the ratings assigned to emPLE Life.