GCR places International Commercial & Engineering ICE Seguros, SA’s national scale financial strength rating of A-(MZ) on “Review Extension”
Johannesburg, 30 June 2021 – GCR Ratings (“GCR”) has placed International Commercial & Engineering ICE Seguros, SA’s (“ICE”) national scale financial strength rating of A-(MZ) on ‘Review Extension’. The rating process is ongoing and GCR expects to publicly release the updated rating result by 31 July 2021. The rating assigned in the last review is still valid and remains unchanged until the review process is completed.
Marlaine Fleur Ngassa
Analyst: Insurance Ratings
+27 11 784 1771
Senior Analyst: Insurance Ratings
+27 11 784 1771
Deputy Sector Head: Insurance Ratings
+27 11 784 1771
Related criteria and research
Criteria for the GCR Ratings Framework, May 2019
Criteria for Rating Insurance Companies, May 2019
GCR Ratings Scale, Symbols & Definitions, May 2019
GCR Country Risk Scores, June 2021
GCR Insurance Sector Risk Score, April 2021
International Commercial & Engineering ICE Seguros, SA
Claims paying ability
Salient Points of Accorded Rating
GCR affirms that a.) no part of the rating process was influenced by any other business activities of the credit rating agency; b.) the rating is based solely on the merits of the rated entity, security or financial instrument being rated; and c.) such rating is an independent evaluation of the risks and merits of the rated entity, security or financial instrument.
The credit rating has been disclosed to the rated entity. The rating was solicited by, or on behalf of, the rated entity, and therefore, GCR has been compensated for the provision of the rating. The rated entity participated in the rating process via virtual management meetings, and other written correspondence.
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