Agusto & Co. has assigned Stanbic IBTC Insurance a Long-Term credit rating of ‘A’ and a Short-Term credit rating of ‘A1’, both with a stable outlook. The announcement came as part of the firm’s credit ratings for the 2025–2026 financial year.
This upgrade reflects growing confidence in Stanbic IBTC Insurance’s financial strength, governance practices, and long-term sustainability. Specifically, Agusto & Co. highlighted the insurer’s sound liquidity, prudent business strategy, and strong backing from its parent company, Stanbic IBTC Holdings.
Moreover, the rating agency noted the company’s robust risk management framework and consistent ability to meet policyholder obligations. These factors collectively reinforced its position as a reliable player in Nigeria’s insurance sector.
In response, Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance, welcomed the news. “We are delighted with this upgrade as a reflection of our progress and the trust we’ve earned from stakeholders,” he said. He added that the company remains focused on delivering reliable protection, exceptional service, and lasting value.
Furthermore, Stanbic IBTC Insurance emphasized its ongoing retail expansion across Nigeria. This strategy aims to improve access to life insurance and strengthen its presence in key markets. As a result, more individuals, families, and businesses can now benefit from its offerings.
Additionally, the insurer has built a strong track record in claims settlement. Since its launch in 2021, it has processed over 2,000 claims—paying out more than ₦1.8 billion in cash. It has also disbursed over ₦16 billion in annuities to more than 4,900 retirees, demonstrating timely and dependable service.
Because of these achievements, the company reaffirms its commitment to financial discipline, customer-centric innovation, and operational excellence. “This recognition motivates us to uphold the highest standards of integrity and service,” Orimolade stated.
Looking ahead, Stanbic IBTC Insurance plans to maintain its solid financial position while deepening its impact across Nigeria. With a stable credit rating and proven performance, it continues to offer security and peace of mind to policyholders nationwide.
