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GCR Ratings (“GCR”), has affirmed the national scale financial strength rating of A+ (NG) with a stable outlook for Custodian Life Assurance Limited (“Custodian Life”). The rating reflects Custodian Life’s robust business model, strong liquidity position, and ability to withstand adverse economic conditions. The rating also reflects GCR’s confidence in the company’s management team and their ability to navigate the challenges of the Insurance industry. In a statement by the rating agency, it attributed this positive profile to a good competitive position of the company, supported by a track record of over three decades in the insurance market, synergies among the Custodian Group’s subsidiaries and a strong distribution network of brokers and agents. The statement continued; “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 on this remarkable achievement, the Managing Director, Custodian Life Assurance Ltd., Mr. Larry Ademeso, 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 rating is also a positive reflection of Custodian Group’s commitment to excellence. The Group’s strong reputation, financial stability, and extensive experience in the industry have contributed significantly to Custodian Life’s success. Custodian Life Assurance Limited is a member of the Custodian Investment Plc (“Custodian” or “the Group”), with interests in insurance, pensions, trusteeship and real estate services businesses in Nigeria.
Source: TheStreetJournal | Read More
