ICEA Lion General Insurance Company Ltd (form. Lion of Kenya Insurance Co.)

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ICEA LION General Insurance Company Limited
  • ICEA Lion General Insurance Company Ltd (form. Lion of Kenya Insurance Co.)
  • Year : Dec 2020
2 Tokens
USD 150.00
Summary

The rating of ICEA LION General Insurance Company Limited (“ICEA LION General”) balances the insurer’s strengths and weaknesses at group level, encompassing ICEA LION General and its 53% owned subsidiary, ICEA LION General Insurance Company of Tanzania (together “the group”). The rating benefits from sound risk adjusted capitalisation and liquidity, as well as adequate earnings, outbalancing weaknesses in the business profile.

Additional Information

The Stable Outlook reflects expectations of sustained capitalisation and liquidity strength, while factoring potential for intermediate earnings and the associated volatility to persist over the outlook horizon. An upward rating is not expected over the short term although a sustainable turnaround in underwriting profitability while all other credit protection metrics remain within strong to very strong ranges may be considered positively over the medium term.

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