Old Mutual Short-Term Insurance’s credit rating affirmed

Kushatha Moswela
Kushatha Moswela

Global Credit Rating (GCR) has affirmed Old Mutual Short-Term Insurance Botswana’s national scale and financial strength to be stable based on the business’ financial strength underpinned by adequate capitalisation, growing earnings, adequate funding and liquidity of the business.

According to the 2021 GCR report, Old Mutual Short-Term Insurance Botswana national scale was rated AA while the country’s international financial strength was rated at BB and national scale financial strength was rated AA.

The rating hence reflects the business’ overall credit worthiness and resilient balance sheet. Old Mutual managing director, Kushatha Moswela said despite the local competitive landscape and an overall challenging year, GCR’s stable outlook reflects Old Mutual Short-Term’s efforts to improve its competitive position and grow its gross premiums.

Editor's Comment
Urgent call: Stop the killing!

The previous week, we had an article about a police officer shooting his wife, and turning the gun on himself, whilst he died, his wife survived and is still in the hospital.Sadly that was not the only article we carried on intimate partner killings. There was the Francistown case, where a young woman allegedly stabbed her ‘former boyfriend’ and many others which were reported throughout the week.As all the reports were coming in, a Botswana...

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