Tanzanian insurer upgraded

A Tanzania-based financial services company’s outlook has been upgraded to positive from stable by a rating agency.

Alliance Insurance Corporation’s outlook is premised on the rating agency’s expectation that risk adjusted capitalisation will improve as a result of stricter capital management.

Meanwhile the rating agency has affirmed Alliance Insurance Corporation’s national scale financial strength rating has been kept at A+(TZ).

This comes after the rating agency affirmed Alliance Insurance Corporation’s national scale financial strength rating has been kept at A+(TZ) in 2020.

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