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Agusto & Co. upgrades Anchor Insurance Company Limited rating to ‘Bbb’

Rating Release

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

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.