Stanbic IBTC Insurance credit rating upgraded to ‘A’ by Agusto & Co., highlighting financial resilience and strong governance standards

Agusto & Co., the leading credit rating agency, has assigned Stanbic IBTC Insurance a Long-Term Rating of ‘A’ and a Short-Term Rating of ‘A1’, both with a stable outlook, in its 2025–2026 financial year assessment.

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The subsidiary of Stanbic IBTC Holdings received the upgrade in recognition of its financial resilience, robust governance, and long-term sustainability.

Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance, described the upgrade as a “delightful reflection of progress and stakeholder trust.”

He added that the company remains focused on delivering reliable protection, exceptional service, and enduring value to policyholders and other stakeholders.

“This recognition motivates us to uphold the highest standards of financial discipline, service excellence, and integrity,” Orimolade said.

Agusto & Co. highlighted Stanbic IBTC Insurance’s strong liquidity position, prudent business strategy, and strategic support from Stanbic IBTC Holdings.

The rating agency also noted the company’s commitment to operational discipline and its robust capacity to meet obligations to policyholders.

Since its establishment in 2021, Stanbic IBTC Insurance has settled over 2,000 claims, totalling more than N1.8bn, and has paid over N16bn in annuities to more than 4,900 retirees.

The company emphasised that these achievements reflect its dedication to prompt and efficient service.

As part of its growth strategy, Stanbic IBTC Insurance has expanded its retail footprint across Nigeria, increasing access to life insurance solutions and strengthening its presence in key markets.

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The company reaffirmed its commitment to financial stability, customer-focused innovation, and delivering consistent security and peace of mind for Nigerians.