Kenyan insurer maintains triple-A rating

A Kenya-based financial services company’s national scale financial strength rating has been kept at of AAA(KE), with a stable outlook, by GCR Ratings.

AIG Kenya Insurance Company has been affirmed on its strong financial profile, bolstered by strong risk adjusted capitalisation and liquidity. The rating also reflects AIG Kenya’s sound earnings on its gross book.

The stable outlook reflects GCR’s expectations that the company’s credit profile will be maintained, with a GCR capital adequacy ratio registering above 3x in the near-term.

This comes after GCR affirmed AIG Kenya’s national scale financial strength rating at AAA(KE), with a stable outlook, in 2020.

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