Credit rating company, Agusto & Co., has assigned a Long-Term Rating of ‘A’ and a Short-Term Rating of ‘A1’, both with a stable outlook, to Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings.
The ratings were announced in Agusto & Co.’s credit assessment for the 2025–2026 financial year and reflect increased confidence in the insurer’s financial strength, governance standards and long-term sustainability.
Commenting on the rating, the Chief Executive Officer of Stanbic IBTC Insurance, Akinjide Orimolade, described the development as a validation of the company’s progress and stakeholder trust.
“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,” Orimolade said.
He added that the recognition would further motivate the company to maintain the highest standards of financial discipline, service excellence and integrity.
According to the insurer, the improved ratings underscore its commitment to robust risk management, operational discipline and a strong capacity to meet obligations to policyholders.
Agusto & Co. also cited Stanbic IBTC Insurance’s sound liquidity position, prudent business strategy and the strategic support it receives as part of Stanbic IBTC Holdings as key factors behind the ratings.
As part of its growth strategy, the insurer has continued to expand its retail footprint across Nigeria, improving access to life insurance solutions and strengthening its presence in key markets.
“This expansion supports our mission to serve individuals, families and businesses with reliable and accessible insurance offerings,” the company said.
On claims settlement, Stanbic IBTC Insurance noted that since its establishment in 2021, it has settled over 2,000 claims valued at more than ₦1.8 billion. In addition, the company has paid over ₦16 billion in annuities to more than 4,900 retirees, reinforcing its commitment to timely and reliable benefits.
The insurer reaffirmed its dedication to maintaining a strong financial position, driving customer-centric innovation and consistently delivering security and peace of mind to Nigerians.
