BIC retains top rating

Global Credit Ratings (GCR) is a leading emerging market focused rating agency that rates the full spectrum of security classes, including Banks, Insurance companies, Corporate entities, Local Authorities, Asset Management companies, Funds and Structured Finance transactions.

GCR is headquartered in Johannesburg, and has several African and sub-regional offices globally. Botswana Insurance Company Limited (BIC) is pleased to announce that GCR has reaffirmed BIC’s national scale claims paying ability rating at AA-(BW), with the rating outlook maintained as “Stable”. The rating of AA- which constitutes the highest rating a short term insurer in Botswana currently can be accorded by CGR, is regarded as positive for BIC, as it emphasises the company’s positive strategic direction.

The rating was determined by BIC’s favourable position as the market leader in the short term domestic insurance arena, accounting for more than twice the average market premium. BIC has also displayed a robust level of risk adjusted capitalisation, which in anticipation of reasonably stable premium and investment mixes supports GCR’s favourable view of BIC’s future capital strength.

Editor's Comment
UDC's 100 Days: Please deliver your promises!

We duly congratulate them to have ousted the long ruling Botswana Democratic Party (BDP) from power. Prior to taking power from the BDP, the coalition had made several election promises that are credited for influencing change and swaying the people to vote in its favour.The party had made an undertaking, which its leader and President Duma Boko consistently bellowed in his campaign trail. These undertakings were promises that Batswana would be...

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