Credit ratings provide an estimate of an insurance company’s ability to meet its financial commitments to its policyholders/clients.
In 2008, ATIDI obtained a Standard & Poor investment-grade credit rating, which ranked ATIDI amongst Africa’s highest-rated financial institutions.
Recognizing the importance of the transparency and oversight that rating agencies provide to ATIDI’s business model, in 2019, ATIDI obtained a second investment-grade credit rating from Moody’s.
The ratings have been consistently reaffirmed each year subsequently.
1) S&P Global Rating
- ATIDI Research Update September 2024
- 2024 S&P Rating Report.
- ATI S&P Report for FY2022
- ATI’s S&P Financial Enhancement Rating
2) Moody’s Investors Service
In March 2023, Moody’s reaffirmed ATIDI’s A3 insurance financial strength rating (IFSR) for the fifth consecutive year and revised the outlook from stable to positive. Moody’s noted that the positive outlook reflects the strong growth in ATIDI’s membership base that has resulted in improved portfolio diversification, strengthened capital adequacy as well as continued profitability despite the challenging operating environment.
Moody’s stated that continued demonstration of strong underwriting performance and ability to recover claims under the preferred creditor arrangements, strong capital adequacy, as well as ability to retain strong reinsurance support could place upward pressure on ATIDI’s rating.