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
GBV: The big elephant in the room

Sadly, the country seems not to have proper tools and the extent to which women and the girl-child are being abused is not adequately measured.Almost every week there are reports of women being attacked by their significant others and while men are attacked as well, women seem to be more on the receiving end.On May 24, 2023 news broke that a woman who was receiving support from the Botswana Gender-Based Violence Prevention Centre in Gaborone, was...

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