Agusto & Co, a top rating agency has released its rating result for 2015 on Linkage Assurance plc, affirming a Bbb- status on the Insurer.
This rating reflects Linkage Assurance satisfactory financial condition and adequate capacity to meet claims obligation as well as a “Stable Outlook “, the rating Agency said in its report.
According to the Agency, the Insurer’s capacity to bear risk improved during the period under review.
Linkage Assurance capital to net premium income stood at 717 percent indicating the insurer’s strong capacity to support business risks 7.2 times in FY2013.
Linkage’s solvency margin of 764.4 percent, and Q3 2014 showing 933.3 percent also exceeded the regulatory minimum requirement of 15 percent and the insurance industry’s average of 198.3 percent.
The rating confirms Linkage has strong capitalization to support its underwriting risk.
Linkage Assurance plc as a general business insurer plays very well also in the oil & gas and motor insurance market spaces of the industry paying over N803 million claims as at third quarter of 2014.
Gus Wiggle, managing director/ CEO, Linkage Assurance plc speaking on the rating reiterated on its focus, stating that the company is continually committed to providing protection that counts to its clients.
We are committed to our clients and that is why we continue to put systems and structures in place to make sure we deliver value in terms of service delivery as well as claims processing time, he said.
According to him, Linkage would continue to cherish its esteemed clients, and making sure that they have good reasons to remain with us and also be our ambassadors out there.
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