Specialist insurer achieves an A+ rating

10 July 2008 Compass Insurance (Pty) Ltd

One of the most dominant specialist insurers in the South African market, Compass Insurance (Pty Ltd) has been awarded an A+ security rating.

Global Credit Ratings upgraded Compass Insurance from an A rating with a positive outlook to the A+ rating this week. The rating upgrade is indicative of the company’s exceptionally high claims paying ability and above average protection factors.

Angela Mhlanga (pictured), Managing Director of Compass Insurance, said: “We are very pleased with the rating received - as this is a positive indicator of Compass’s claims paying ability and good standing. This rating confirms that the strict governance that Compass applies, alongside its sound management processes will bode well for our clients and other business partners.

Compass Insurance has been operational in the South African market for 15 years – having developed a successful model to deliver niche insurance expertise via its underwriting agencies to a range of sectors from marine insurance through to clients who require industry specific insurance in the hospitality, woodworking and domestic thatch industry, among others.

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