In 2021, the company moved from A- rating to A rating based on the organization’s new financial position and stable outlook from a statutory solvency perspective.
Our continued success over the years saw the company’s performance ranked among the top players in the insurance industry in the country. From 2007 up to year 2021, the South African-based Rating organization, Global Credit Rating, (GCR), had consistently rated the Company A- in attestation of the Company’s high claims-paying ability in the insurance industry. The considerations for the rating amongst others were based on the company’s sizable capital base, sound internal capital generation, healthy investment returns, foreign exchange gains, and a strong liquidity profile backed by a conservative assets allocation strategy.
Sovereign Trust Insurance Plc continues to be the lead underwriter for most of the major oil and gas projects in Nigeria.