GCR Confirms Custodian Life Assurance’s A+ Credit Ratings
Custodian Life Assurance Limited (“Custodian Life”) has maintained its A+ (NG) national scale financial strength rating with a stable outlook from GCR Ratings (“GCR”).
The company’s sound business strategy, strong cash position, and capacity to resist challenging economic situations are all reflected in the rating. The rating also demonstrates GCR’s faith in the management group of the organization and its capacity to meet the difficulties of the insurance sector.
The rating agency explained this positive profile in a statement, attributing it to the company’s strong competitive position, which is backed by a history of more than three decades in the insurance market, synergies among the Custodian Group’s subsidiaries, and a strong distribution network of brokers and agents.
The statement went on to say; “Going forward, Custodian’s earnings will be sustained by its strong brand which supports top line growth, higher yields on its investment portfolio and continued synergies within the group”.
Speaking about this outstanding accomplishment, Mr. Larry Ademeso, Managing Director of Custodian Life Assurance Ltd., said, “We are thrilled at GCR’s affirmation of a A+ credit rating for Custodian Life. This highlights our unwavering commitment to providing our customers with innovative and reliable products and services. This position, which we have sustained despite turbulent economic conditions is a testament to the strong support we receive from our parent company, Custodian Investment Plc.”
The ranking reflects well on Custodian Group’s dedication to excellence. Custodian Life has succeeded in large part because of the Group’s solid reputation, financial stability, and breadth of industry knowledge.
A subsidiary of Custodian Investment Plc (“Custodian” or “the Group”), Custodian Life Assurance Limited operates in Nigeria and has interests in the insurance, pension, trusteeship, and real estate services industries.