Rating action

Johannesburg, 30 November 2021 – GCR Ratings (“GCR”) has affirmed NICO General Insurance Company Limited’s (“NICO General Malawi”) national scale financial strength rating of AA_(MW), with the Outlook accorded as Stable.

Rated entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
NICO General Insurance Company Limited	Financial strength	National	AA_(MW)	Stable Outlook

Rating rationale

NICO ...
Read More

2 months ago

GCR Research - View All

GCR Assigns the Zimbabwean Medical Schemes Sector Risk Score

GCR Ratings has assigned the Zimbabwean Medical Schemes Sector Risk Score of 1.75. The score is underpinned by very limited regulatory oversight and transparency on industry performance, albeit evidencing low ... Read More

GCR Publishes Updated Criteria for Secured Bond Expected Loss Credit Ratings

GCR has published an update to the Criteria for Secured Bond Expected Loss Credit Ratings. The criteria is available for download at GCRratings.com/criteria. The criteria titled ‘Criteria for Secured Bond ... Read More

GCR updates the Nigerian Corporate Sector Risk Scores

GCR Ratings has updated its Nigerian Corporate Sector Risk Scores. Inclusion of a risk score for secondary manufacturing, initial score of 2.0 There are no changes to other sector risk ... Read More

GCR updates its Corporate Commercial Property Sector Risk Scores for territories outside South Africa

GCR Ratings has updated its Commercial Property Sector Risk Score for selected European territory groupings and countries outside South Africa. This cross-jurisdictional publication serves to complement the pre-existing South African ... Read More

GCR publishes the updated Country Risk Scores

GCR Ratings has published the reviewed Country Risk Scores. The Country Risk Scores are available for download at https://gcrratings.com/risk-scores/. The Country Risk assessment, which is a key part of the ... Read More

Premium research: Latest releases - view more

Credit Rating Report: Diamond Trust Bank Kenya Limited

DTB is positioned among the top tier banks in Kenya’s fragmented banking sector, largely serving corporates and small medium enterprises (‘SMEs’). The bank has a fairly strong domestic franchise, reflected by its share of industry deposits and assets of 5.3% ...
Read More

Credit Rating Report: Societe Nationale d’Assurances et de Reassurances (SONAR-IARD)

Dec 23, 2021

Liquidity remains a key rating weakness, limited by a relatively aggressive investment allocation stance. Further considering increases in net technical liabilities outpacing investment portfolio growth, cash and stressed financial assets coverage of net technical liabilities continued trending around 1.0x, while ...

Credit Rating Report: AB Finco 1 (RF) Limited

Dec 23, 2021

The claims of Noteholders in respect of each Transaction are secured though a limited recourse guarantee issued by the Security SPV, which has been established for the sole purpose of holding and realising security for the benefit of the Noteholders ...

Credit Rating Report: Zimnat Life Assurance Co. Limited

Dec 23, 2021

Earnings moderated in FY20 driven by operating expenses and claims incurred, which remained elevated due to the negative impact of the change in functional currency to the local unit. The subsequent onset of hyperinflation translated into an unfavourable claims experience, ...

Monitoring Dashboard: Nitro Securitisation 6 (RF) Limited

Dec 22, 2021

The Dashboard covers the period from February 2019 to November 2021 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboards at least on a quarterly basis. Read ...