SA insurer keeps top rating

A South Africa-based financial services company’s national scale financial strength rating has been kept at A+(ZA), with a stable outlook, by a rating agency.

The rating agency has affirmed Lombard Insurance Company on its strong liquidity and intermediate earnings.

Lombard’s outlook has also been kept at stable on expectations that earnings will remain sound and supportive of capital growth, which along with investment restructuring is likely to improve risk adjusted capitalisation.

This comes after the rating agency affirmed Lombard’s rating in 2020.

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