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Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has received a long-term rating of A and a short-term rating of A1, both with a stable outlook from Agusto & Co for the 2025–2026 financial year.
This upgrade reflects stronger confidence in Stanbic IBTC Insurance’s financial resilience, governance standards, and long-term sustainability.
The improved ratings underscore the Company’s commitment to robust risk management, operational discipline, and its strong capacity to meet obligations to policyholders.
Read also: Stanbic IBTC after-tax profit rises by 52% on corporate banking growth
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 continues 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.
Commenting on the rating upgrade, Akinjide Orimolade, chief executive of Stanbic IBTC Insurance, stated, “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.”
Read also: Wema, Stanbic top NGX banking stocks in 2025
In terms of claims settlement, Stanbic IBTC 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 N1.8 billion in cash. Additionally, it has paid over N16 billion in annuities to more than 4,900 retirees, reaffirming its dedication to delivering reliable and timely benefits.
Stanbic IBTC Insurance remains committed to maintaining its strong financial position, driving customer-centric innovation, and consistently delivering on its promise of security and peace of mind for Nigerians, the company said.
