Goldstar Insurance Company Limited

Image placeholder
Goldstar Insurance Company Limited
  • Goldstar Insurance Company Limited
  • Year : Feb 2021
3 Tokens
USD 300.00
Summary

The rating affirmation reflects the insurer’s very strong financial profile, characterised by very strong risk adjusted capitalisation and liquidity, while the strong earnings capacity assessment factors in an expected normalisation in underwriting profitability and continued sound net earnings. Goldstar Insurance Company Limited’s (“Goldstar”) robust financial profile is a function of strong capital generation from operations and a low risk retention operating model, albeit with high banking counterparty concentration factoring into GCR’s view of capital and liquidity management.

Additional Information

The Stable Outlook reflects the entrenched nature of the insurer’s limited business profile, which although under pressure from new market entrants, has remained unchanged. An improvement in the business profile would be positive to the rating as well as a reduction in banking counterparty concentration. The rating could be downgraded on the back of a material and/ or sustained reduction in the business profile and earnings.

Related Publication

Phoenix of Uganda Assurance Company Limited (2016-11)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Profit in the Policies: Ugandan Insurance Sector’s regulatory changes set to improve market fundamentals, spur consolidation and longer-term penetration

Uganda’s insurance sector is amongst the most profitable markets in the sub-Saharan Africa region, notwithstanding its relatively small size...

SECURITISATION 101

Securitisation is seen as an alternative to on-balance sheet funding and a form of disintermediation, allowing corporates and other institutions to...

Available Purchase Options: