Centriq Insurance maintains A+ rating for four consecutive years

The Global Credit Rating (GCR) Company has assigned Centriq Insurance, a specialist insurer with an established presence in the cell captive and alternative risk transfer segment, an A+ grading for the fourth consecutive year.

Gareth Beaver, CEO of Centriq Insurance is pleased with the outcome of the report, saying that the company will continue to go from strength to strength, entrenching its already strong position in the market place through the continued provision of exceptional underwriting; claims paying and management; cell captive; UMA and contingency policy offerings; with service excellence; client relationships; systems infrastructure, efficient risk management; regulatory compliance and skills as key focus points.

The rating was based on the following key factors:

- Centriq’s ability to pay claims
- The company’s position in the alternative transfer arena
- Centriq’s specialised product offerings as key differentiator in terms of retaining and growing its client base
- Company profits on a net basis, underpinned by a large component of fee-based income and conservative participation in underwriting risk
- The insurer’s investment approach, which is supportive of strong liquidity levels
- Centriq’s ability to maintain a comfortable solvency margin at promoter level
- The company’s ability to manage credit risk relating to its third party sponsored cells