AXA Mansard Insurance Plc has obtained a stable credit rating with its Financial Strength Rating (FSR) of “B+” (Good) and “BBB-” (Good) for the Issuer Credit Rating (ICR).
The rating was done by A.M. Best, a global rating agency stating that “The ratings reflect AXA Mansard’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
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“The ratings also reflect rating enhancement from AXA Mansard’s ultimate parent, AXA S.A. (AXA group).”
According to a statement from the insurance firm, it remains an outstanding insurer with strong financial strength and excellent underwriting capabilities.
Commenting on the rating, Mrs Ngozi Ola-Israel, the Chief Financial Officer said: “The affirmation of our ratings lends credence to the significant improvement in our internal capital generation abilities with a strong focus on continuously improving our underwriting performance through technical excellence.”
The Chief Executive Officer, Mr Kunle Ahmed, said: “We are pleased that our continued effort to build a resilient non-bank financial services institution is yielding positive results.
“We are committed to acting for human progress by protecting what truly matters,” he stated.
