GCR extends Under Criteria Observation applicable to The Hollard Insurance Company Limited’s rating
Johannesburg, 28 February 2020 – GCR Ratings has extended the Under Criteria Observation applicable to The Hollard Insurance Company Limited’s rating.
In May and June 2019, GCR Ratings (“GCR”) published its new GCR Ratings Framework, consisting of criteria for the Ratings Framework, as well as accompanying criteria for specific underlying sectors (collectively referred to as “the Criteria”). The Criteria are available on GCRratings.com/criteria. At the point of publication, impacted entities’ ratings were placed “Under Criteria Observation” (“UCO”), allowing for the review of said ratings under the new criteria.
GCR is extending the UCO for The Hollard Insurance Company Limited’s rating which has not yet been reviewed under the updated Criteria. This extension allows GCR additional time to receive and process key information and/or data for the respective entity, and to apply the updated Criteria to the entity
The UCO process is not linked to the performance of The Hollard Insurance Company Limited. The existing rating remains in effect until completion of the updated review.
The rating accorded to The Hollard Insurance Company Limited is expected to be reviewed by 13 March 2020.
Claims paying ability
Head of Group Ratings
Group Analytical Manager
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+27 11 784 1771
Related Criteria and Research
Criteria for the GCR Ratings Framework, May 2019
Criteria for Rating Local and Regional Governments, June 2019
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