NNAC rating reaffirmed at 'A' ; stable outlook

Dear business partners

It gives me pleasure to announce the reaffirmation of our "A" (stable) rating by Global Credit Ratings, for 2017/18 year. This rating is based on our claims-paying abilities, and also considers the strengh of our strategic plans, our solvency and our liquidity positions. In the midst of difficult economic and trading conditions, I am pleased about what this rating says about the strengh of our fundementals, undescoring our credentials as the largest empowered short-term insurer in South Africa.

Thank you for the strong commitment you've shown in partnering with us over this period, and look foward to our partnership growing even more into the future.

Let's move foward, together.

Kalim

Strategic Director