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Article: GCR upgrades to AA- Jubilee Insurance's rating.
- Article from:
- ADP News Middle East & Africa
- Article date:
- August 28, 2009
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(ADPnews) - Aug 28, 2009 - South African Global Credit Rating Co (GCR) said in its news issue for July 2009 it upgraded to AA- from A+ the domestic currency claims paying ability rating of The Jubilee Insurance Company of Uganda Ltd.
Strong premium growth in the general business has been evidenced for a number of years, supported by substantial underwriting profits, with Jubilee Insurance having recently established itself as the largest insurer operating in Uganda. The insurer is adequately capitalised, with the life fund in a healthy surplus and the general business reporting an international solvency margin of 145% as at the end of 2008.
Furthermore, ...