Standards & Poor's has assigned short-term insurer Santam with its “A-” long-term counterpart credit and insurer financial strength rating and also gave it a “zaaAA” South Africa national rating with a stable outlook.
This follows a similar stable rating that Santam recently got from another rating agency Moody's‚ which cited the strong performance and capital strength of SA's largest short-term insurer by annual premiums.
In its commentary‚ Standards & Poor's said Santam continued to develop its competitive position through diversification and manage risk exposures in line with capital resources.
“This rating is testament to the financial strength of Santam and its stable operating performance‚ further enhancing our reputation and leadership status in the local market‚” said Ian Kirk‚ the CEO of Santam. - I-Net Bridge