In what has become a trend of ‘Firsts', Guaranty Trust Assurance plc has been assigned an Aa- rating by Agusto & Co, the nation's premier risk rating agency.  This rating of Aa- is the highest risk rating ever given to any insurance company in Nigeria.

The rating is a significant improvement on the A+ assigned to the company in 2008 and a testament to the Company's commitment to consistently raise its financial performance, transparency and service delivery.

According to Agusto & Co., "the rating of Guaranty Trust Assurance takes into consideration its parental support, adequate capitalization, good cash flow, good liquidity, prudent underwriting & reinsurance strategy, qualified and stable management team".  Also "the company's solvency margin of 498% is well above the regulatory minimum of 15% of net premium income. In addition, the company's shareholders' funds (of N12.5billion as at December 2008 year-end) is well above the N5billion minimum capital requirement for composite insurance business"

The rating also stated that "GTAssurssur's favourable liquidity position is due to its strategy of ensuring a moderate level of liquid assets to support claims obligation. GTAssurssur's reinsurance treaty agreements provide adequate support for risks written across major business lines. In addition, the Company's Enterprise Risk Management (ERM) framework provides adequate support for its underwriting activities with a view to identify, measure, monitor and control material risks prevailing in its operations".

According to Agusto & Co., GTAssurssur's exposure, risk retention and market position are good.

The latest rating according to the company's Head of Marketing & Corporate Communications, Mr. Chike Ogwo, "is indicative of GTAssurssur's good financial condition and overwhelming capacity to deliver superior underwriting services and honour its obligations.

Guaranty Trust Assurance plc is a subsidiary of Guaranty Trust Bank plc.