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Centriq retains A+ Rating

03 February 2010 Michael Blain,Centriq
Michael Blain

Michael Blain

I am pleased to announce that Global Credit Rating Co. (GCR) has reaffirmed Centriq  insurance Company’s claims paying rating as “A+”. The rating reflects Centriq’s strong claims paying ability and above average protection factors, underpinned by a large component of fee-based income.

According to Susan Andrews of GCR, “Centriq continues to strengthen its market position in the alternative risk transfer arena, while its specialised product offering is considered a key differentiating factor in terms of retaining and growing its client base. The company has been consistently profitable on a net basis, underpinned by a large component of fee-based income and conservative participation in underwriting risk. Cognisance was taken of the insurer’s conservative investment approach, which has supported strong liquidity levels. Furthermore, Centriq has maintained a comfortable solvency margin  at the promoter level.”

Centriq has been consistently profitable on a net basis whilst investing considerably in staff with multi-functional expertise and focusing on systems infrastructure to enhance risk management.

We will continue to develop skills and pursue systems integration with clients and business partners to remain a trusted and secure insurance provider.

I wish to thank our clients, business partners and shareholders for their valued support as we continue to pursue opportunities in an exciting and challenging environment.

Yours faithfully

MICHAEL BLAIN
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