Agusto & Co. Upgrades Stanbic IBTC Insurance’s Credit Ratings to A and A1
Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has announced that Agusto & Co. has upgraded its credit ratings for the 2025–2026 financial period. The company now holds a Long-Term Rating of A and a Short-Term Rating of A1, both maintaining a Stable Outlook. This enhancement signifies increased confidence in the insurer’s financial strength, governance standards, and sustainable growth prospects.
The upgrade highlights Stanbic IBTC Insurance’s dedication to sound risk management, operational excellence, and its ability to fulfill policyholder obligations. Agusto & Co. also recognized the company’s healthy liquidity, prudent strategic planning, and the backing from Stanbic IBTC Holdings as key factors contributing to the rating improvement.
As part of its expansion plans, Stanbic IBTC Insurance continues to grow its retail network across Nigeria, aiming to improve access to life insurance products and strengthen its footprint in vital markets. These efforts align with its goal to provide dependable and accessible insurance solutions to individuals, families, and businesses.
Commenting on the ratings upgrade, Akinjide Orimolade, CEO of Stanbic IBTC Insurance, 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.”
In addition, Stanbic IBTC Insurance has demonstrated a consistent commitment to prompt claims settlement. Since its founding in 2021, the company has paid out over 2,000 claims totaling more than ₦1.8 billion and has paid over ₦16 billion in annuities to more than 4,900 retirees, reaffirming its dedication to reliable and timely benefits.
The company remains committed to maintaining a strong financial position, innovating customer-centric solutions, and upholding its promise of security and peace of mind for Nigerians.