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Chuks Udo okonta
Fast-growing life insurer, FBNInsurance limited, has confirmed its continuous growth amongst the comity of insurers by bagging the prestigious ‘A+’ credit rating from the foremost research and credit ratings company, Agusto & Co.
In the final rating report, the credit ratings company acknowledged FBNInsurance as a “financial institution with satisfactory financial condition and adequate capacity to meet its obligations as and when they fall due.” The report states further that: “the rating reflects its (FBNInsurance’s) strong capitalization, good profitability, moderate exposure to underwriting risk, good cash flow and liquidity as well as an experienced management team.”
Industry watchers believe that while the company’s affiliation to FBNHoldings has helped her business development and risk management initiatives, her association with the Sanlam Group (SA) on the other hand has clearly aided the insurer’s technical capabilities thereby making it a vibrant business concern. This much was acknowledged by her recent announcement as the 2018 AIO/AfricaRe Insurance Company of the Year in Accra, Ghana.
It will be recalled that FBNInsurance has consistently been rated A+ for the past three years. With a growing retail network of over 2000 retail sales agents operating from 42 sales outlets and 3 branch offices nationwide, the company is poised to increase her market share with unique product offerings and a commitment to customer relationship.
