Grand Reinsurance Company Limited

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Grand Reinsurance Company (Private) Limited (2022-02)
  • Grand Reinsurance Company Limited
  • Year : Feb 2022
3 Tokens
USD 300.00
Summary

The MHM unconditional, irrevocable guarantee in favour of Grand Re’s policyholders results in MHM paying policyholder obligations owed by Grand Re to “its insurance counterparties, should the company be unable to pay upon a claim that has been assessed as due”. GCR reviewed the guarantee together with the legal opinion, as well as relevant board resolutions, and is satisfied that it meets the relevant conditions of unconditionality, irrevocability, timeliness and ranking in line with MHM’s own creditors.

Additional Information

The Stable Outlook reflects Masawara’s strong national scale credit strength within the Zimbabwe operating environment, given uplift from exposure to the Botswana market. An upgrade is considered unlikely, given that the insurer’s rating is equalised to Masawara’s Zimbabwe long term issuer rating which is at the ceiling. Conversely, downward rating movement may follow a material or sustained weakening in Masawara’s credit profile.

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