Zimbabwean insurer discoloured

A Zimbabwe-based financial services company’s outlook has been dropped from stable to negative by GCR Ratings.

The rating agency has dropped Zimnat Life Assurance Company’s outlook on expectations of financial profile vulnerability to the on-going volatility in the operating environment in Zimbabwe brought on by the coronavirus 2019 (COVID-19) crisis.

GCR has however affirmed Zimnat Life’s national scale financial strength rating at A(ZW) due to its strong financial profile, supported by sound risk adjusted capitalisation coupled with intermediate earnings.

See issuer profile here