Tech & Tools DeskAgusto Assigns A, A1 Ratings to Stanbic Insurance
Credit rating firm Agusto & Co. has awarded Stanbic IBTC Insurance a Long-Term Rating of A and a Short-Term Rating of A1, both carrying a stable outlook.
The ratings were announced as part of Agusto & Co.’s credit assessment for the 2025–2026 financial year and reflect increased confidence in the insurer’s financial strength, governance framework, and long-term sustainability.
Reacting to the development, the Chief Executive Officer of Stanbic IBTC Insurance, Akinjide Orimolade, described the ratings as recognition of the company’s steady progress and growing stakeholder trust.
He stated that the insurer remains committed to providing dependable protection, quality service, and lasting value to policyholders and partners, adding that the recognition reinforces its resolve to maintain strong financial discipline, service excellence, and ethical standards.
According to the company, the improved ratings highlight its robust risk management practices, operational efficiency, and solid capacity to meet policyholder obligations.
Agusto & Co. also pointed to Stanbic IBTC Insurance’s healthy liquidity position, prudent business approach, and the strategic support it enjoys as part of Stanbic IBTC Holdings.
As part of its growth agenda, the insurer noted that it has continued to expand its retail presence nationwide, increasing access to life insurance products and strengthening its footprint in key markets.
The company added that it has consistently demonstrated commitment to prompt and efficient claims settlement. Since commencing operations in 2021, Stanbic IBTC Insurance has settled more than 2,000 claims valued at over N1.8bn.
In addition, the insurer disclosed that it has paid over N16bn in annuities to more than 4,900 retirees, reinforcing its dedication to timely and reliable benefit payments.
Stanbic IBTC Insurance reaffirmed its commitment to sustaining a strong financial position, advancing customer-focused innovation, and delivering long-term security and peace of mind to Nigerians.
