GCR upgrades Zimnat General Insurance rating to A+

Global Credit Rating recently revised Zimnat General Insurance’s national scale financial strength rating to A+(zw) Stable Outlook, from its previous rating of A-(zw).The financial strength rating (formerly claims paying ability) went up two notches.

GCR is the leading emerging market focused ratings agency, rating the full spectrum of security classes based on the best international standards. It accords both International Scale and National Scale ratings. Together with its international affiliates, it rates almost 3 000 organisations and debt issues spanning four continents.

Explaining the rating upgrade GCR commended Zimnat’s sound business profile and disciplined approach to underwriting and capital management. This comes after Zimnat started employing value preservation strategies, to counter the uncertainties presented by the operating environment.

“The insurer has maintained strong brand recognition and evidenced healthy growth momentum over the review period, with a significant increase in market share in the 2018 financial year, underpinned by comparatively high-risk uptake in key lines of business,” GCR said.

More operational flexibility comes with such a good rating, positioning Zimnat General Insurance as a strong short-term insurer of choice supported by the quest to provide the market with realistic insurance cover products that help clients achieve their set objectives and make their lives better.

Zimnat General Insurance is a part of the Zimnat group, a diversified financial services group made up of Zimnat General Insurance, Zimnat Life Assurance, Zimnat Financial Services and Zimnat Asset Management. Zimnat is a partner of Sanlam, the largest non-banking financial services group on the continent.

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0 6.38 0 1 0 0 1 0 1 0 3 2 1 1 19 11 1 1 0 0 3 1 0 0 0 7 0 1 0 1 0 0 3 0 0 4 6 2 0 0 1 0 0 1 10 4 0 0 0 0 0 0 0 0 0 0 0 1 0.0000 16,873,100 8,200,327.0000 0.0000 0.0000 2,600 0.0000 100 0.0000 5,000 1,900 3,600 200,000 290,600 58,000 2,100 4,800 0.0000 0.0000 16,800 2,500 0.0000 0.0000 0.0000 325,700 0.0000 5,700 0.0000 25,000 0.0000 0.0000 68,100 0.0000 0.0000 5,400 47,200 1,100 0.0000 0.0000 2,900 0.0000 0.0000 3,400 249,200 7,700 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000

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2,008.1000 640.0000 997,757.0000 330.6000 120.0000 612,900.0000

3,800.0000 1,180,675.0000 2,725.0000

2,030.0000

9,214.0000 548,244.0000 11,315.5000 252.0000