Cell Insurance Company Limited (2022-02)
- Cell Insurance Company Limited
- Year : Feb 2022
Summary
The insurer’s competitive positioning remained strong, with the prior year strengthening in market share having been maintained in FY20 at 10.3% (FY19: 10.8%). This is supported by the insurer’s resilient business model with predominantly foreign currency denominated products, which are less susceptible to inflationary pressures. Furthermore, the specialised nature of its business model and captive revenue from shareholders with critical mass in the power industry and business support arrangements with major mining houses provide revenue stability.
Additional Information
The Stable Outlook reflects expectations that the financial profile will remain at current levels, underpinned by sustained earnings performance at underwriting level, as well as strong capitalisation and liquidity levels. We also expect the insurer’s market share to be sustained at current levels. Positive rating movement could develop from sustained market share metrics and earnings performance, while maintaining risk adjusted capitalisation and liquidity at current levels.
