Agusto & Co. Assigns "Bbb-" Rating to Universal Insurance Plc for Strong Growth Prospects

Agusto & Co. has assigned a "Bbb-" rating with a stable outlook to Universal Insurance Plc (NGX: UNIVINSURE) in Nigeria. The rating reflects the company's long operational history, improved profitability, low loss ratio, and moderate liquidity position.

Universal Insurance is noted for its ability to maintain a solvency margin of 184.9%, above the minimum threshold set by Agusto & Co. The company's strong growth is driven by initiatives to deepen relationships with customers and insurance brokers, enhance customer experience through digital platforms, and strengthen cash flow.

Despite a rise in estimated claim liabilities, Universal Insurance's underwriting performance is favorable, leading to increased profits. The CEO, Dr. Jeff Duru, acknowledges the recent credit rating as a testament to the company's hard work and investments for long-term growth resilience.