ICEA Lion Life Assurance Company Ltd (form. Insurance Company of East Africa)

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ICEA LION Life Assurance Company Limited (2021-09)
  • ICEA Lion Life Assurance Company Ltd (form. Insurance Company of East Africa)
  • Year : Sep 2021
3 Tokens
USD 300.00
Summary

Risk adjusted capitalisation is assessed at very strong levels, underpinned by the maintenance of a large capital base, sufficient to absorb aggregate risk exposures. In this respect, the subgroup’s capital base advanced 12% to KES15.3bn at FY20, driven by healthy earnings generation and retention. This, together with moderate exposure to underwriting and market risk, sustained the assessment of risk adjusted capitalisation within a very strong range.

Additional Information

The Stable Outlook considers the pending consolidation of ICEA LION Life and its select subsidiaries at the recently established intermediate holdings company (“ICEA LION Insurance Holdings Limited”) level, which will also incorporate the accounts of ICEA LION General Insurance Company Limited and its subsidiary. In this respect, the impending consolidation is expected to have a neutral impact on ICEA LION Life’s credit profile, unless there is a positive reassessment of the subgroup’s importance to ICEA LION Insurance Holdings Limited.

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