The credit rating company, Agusto & Co., has assigned a Long-Term Rating of ‘A’ and a Short-Term Rating of ‘A1’, both with a stable outlook, to Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings.
This new rating was announced in the credit ratings for the 2025–2026 financial year.
The credit rating upgrade reflected stronger confidence in Stanbic IBTC Insurance’s financial resilience, governance standards, and long-term sustainability.
Commenting on the rating upgrade, the Chief Executive of Stanbic IBTC Insurance, Akinjide Orimolade, said, “We are delighted with this upgrade as a reflection of our progress and the trust we’ve earned from stakeholders.
“Our focus remains on delivering reliable protection, exceptional service, and enduring value to both policyholders and other stakeholders. This recognition motivates us to uphold the highest standards of financial discipline, service excellence, and integrity.”
The underwriter said that the improved ratings underscored its commitment to robust risk management, operational discipline, and its strong capacity to meet obligations to policyholders.
Agusto & Co. also cited Stanbic IBTC Insurance’s sound liquidity position, prudent business strategy, and the strategic backing it receives as part of Stanbic IBTC Holdings.
As part of its growth strategy, Stanbic IBTC Insurance said that it had continued to expand its retail footprint across Nigeria, enhancing access to life insurance solutions and deepening its presence in key markets.
“This expansion supports its mission to serve individuals, families, and businesses with reliable and accessible insurance offerings. In terms of claims settlement, Stanbic IBTC Insurance has consistently demonstrated its commitment to prompt and efficient payout to policyholders and annuitants. Since its establishment in 2021, the company has settled over 2,000 claims, amounting to more than N1.8bn in cash,” said the insurer.
Additionally, it has paid over N16bn in annuities to more than 4,900 retirees, reaffirming its dedication to delivering reliable and timely benefits. Stanbic IBTC Insurance also recommitted to maintaining its strong financial position, driving customer-centric innovation, and consistently delivering on its promise of security and peace of mind for Nigerians.
