In its recent report and rating of ATI, S&P noted that ATI was expected to maintain its ‘policy importance’ to Africa despite COVID-19 related economic challenges in the region.
- Rationale for the rating included: robust equity growth to US$349 million; strong top-line growth in 2019 posting a 70% increase in the Gross Written Premium over 2018 and a 134% increase in the Net Profit; and significant expansion in the shareholder base leading to a record US$6.4 billion Gross Exposure.
- The report also noted ATI’s ‘solid record of preferred creditor treatment’ having fully recovered all outstanding sovereign obligation claims from previous years.
- Sound enterprise risk management practices, strengthened by strategic hires such as a Chief Risk Officer in February 2020 were also cited as key factors supporting ATI’s rating result.
The report can be accessed from the following link:
http://www.ati-aca.org/wp-content/uploads/2020/04/ RatingsDirect_AfricanTradeInsuranceAgency_44729433_ Apr-30-2020.pdf
