Old Mutual Short-Term Insurance’s credit rating affirmed :: Mmegi Online

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.

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