Centriq maintains A+ five years in a row

Premier insurer Centriq maintains its leading position in the market place, having been awarded an A+ rating for the fifth consecutive year by the Global Credit Rating (GCR) Company.

“Our continuous quest for complete customer satisfaction as well as product and service excellence will remain the driving force behind future business decisions,” said Gareth Beaver, CEO of Centriq Insurance, who is pleased with the outcome of the report.

Centriq’s rating was based on the following key factors:

- The insurer’s ability to pay claims

- The company’s position in the alternative transfer arena

- The insurer’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

Centriq is an established cell captive insurer catering for the alternative risk finance, alternative distribution and underwriting management segments of the market.