Agusto & Co. upgrades Anchor Insurance Company Limited rating to ‘Bbb’
The rating expires on 30 June 2020.
The rating assigned to Anchor Insurance Company Limited (‘Anchor Insurance’ or ‘the Insurer’) reflects good shareholder support as demonstrated by the recent recapitalisation of the Insurer to meet the regulatory capital increase, a good liquidity profile and an experienced management team. However, Anchor Insurance’s rating is constrained by weak profitability, low investment returns and the fragile macroeconomic environment, exacerbated by the COVID-19 pandemic
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