GCR Affirms Leadway Assurance’s “AA+(NG)” Financial Strength

Leadway Assurance Company Limited’s solid financial position as an industry leader has been independently attested with the reaffirmation of its National Scale Financial Strength Rating of AA+(NG) by Global Credit Ratings (GCR).

This was disclosed in a statement issued by Aishat Bello-Garuba, Head, Corporate Services, Leadway Holdings. GCR Ratings, a leading African rating agency, acknowledged in its latest report Leadway Assurance’s strong financial profile, well-established market position, and robust operational framework.

The rating reflects the company’s prudent risk management practices and ability to navigate challenging economic conditions while maintaining stable performance.

The rating agency also highlighted the company’s ability to sustain its competitive edge within the market, saying: “The affirmation of Leadway Assurance’s rating is supported by its extensive brand recognition, long-standing presence in the insurance sector, and consistent operational excellence.

The insurer’s prudent capital management strategies have enabled it to maintain robust solvency levels and an industry-leading asset base.” In addition, GCR affirmed that the rating process for Leadway Assurance was conducted with full independence and integrity.