Insurance Ratings

GCR's Criteria For Rating Short Term, Life and Composite Insurance Companies

Insurance Ratings

Contact Details

Head of desk: Funmilayo Ojatunwase
T: 00 234 1 462-2545
Email: .(JavaScript must be enabled to view this email address)

Overview

Global Credit Rating Co. (“GCR”) is the leading rating agency in Africa , with particular expertise in claims paying ability ratings. Overall, GCR accounts for approximately 81% of all claims paying ability ratings accorded on the African continent and boasts a ratings coverage ratio of up to 95% in certain markets.

Methodologies

Please click here for a Glossary of Terms
                               
Global Master Criteria for Rating Short Term Insurance and Reinsurance Companies, updated July 2017
GCR’s claims paying ability (“CPA”) ratings are accorded to short term insurers and reinsurers, and give an independent opinion of an entity’s ability to meet policyholder and assumed reinsurance obligations, excluding funds where investment or other risk rests with the policyholder through a contractual agreement. The CPA rating is the basis for any other ratings accorded to insurance and reinsurance companies.
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Criteria for Rating Insurers’ Debt and Hybrid Equity Instruments, updated July 2017
The CPA rating accorded to an insurer serves as the anchor rating for related credit assessments. Ratings are subsequently assigned to an organisation’s debt or preferred stock issuances through the recognition of the claims prioritisation due to legal, regulatory or contractual parameters.
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Criteria for Rating Cell Captive Insurers, updated July 2017.
The analysis of cell captive insurers incorporates the overarching key rating factors detailed in the Global Master Criteria for Rating Short Term Insurance and Reinsurance Companies (“Criteria for Rating Short Term Insurance Companies”), while also addressing the distinctive characteristics surrounding the evaluation of cell captive entities, with particular reference to the business model and nature of the cell captive structure.
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Criteria for Rating Newly Established and Start-Up Insurance Companies, updated July 2017
The scope of this methodology extends to all types of newly formed insurance entities. This report should also be read in conjunction with the Global Master Insurance Criteria available on GCR’s website.
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Global Master Criteria for Rating Long Term Insurance and Reassurance Companies, updated July 2017
GCR’s Financial Strength (“FS”) ratings are accorded to companies that conduct life insurance business. The ratings give an independent opinion of an entity’s ability to meet policyholder and assumed reinsurance obligations, excluding funds where investment or other risk rests with the policyholder through a contractual agreement. The FS rating is the basis for any other ratings accorded to insurance and reinsurance companies.
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Articles of Interest

 

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Recent Rating Reports

10 Oct 2017: Rand Merchant Bank Nigeria Limited

10 Oct 2017: Leadway Assurance Company Limited

10 Oct 2017: North South Power Company Limited

10 Oct 2017: First Bank of Nigeria Limited

10 Oct 2017: Nigeria Mortgage Refinance Company Plc

10 Oct 2017: Dangote Cement Plc

10 Oct 2017: Fortis Microfinance Bank Plc

10 Oct 2017: Flour Mills of Nigeria

10 Oct 2017: Sterling Investment Management SPV PLC

10 Oct 2017: FSDH Merchant Bank Limited

Purchase Rating Reports

Parties interested in purchasing individual or sectoral rating reports and/or bulletins from Global Credit Rating Company Limited are kindly requested to contact us on the following telephone numbers or email address.

Telephone: (+2341) 462 2648, 460 5001, 0805 615 8393, 0803 352 871

Email: bisi@warltd.com

Email: tunde@globalratings.net

Recent Bulletin Releases
Rating Sectors
Credit Ratings

For a full list of Credit Ratings performed by Global Credit Ratings Company Limited please click here