New National Assurance Company (‘NNAC’) has had its “A” rating reaffirmed by

New National Assurance Company (‘NNAC’) has had its “A” rating reaffirmed by Global Credit Rating (GCR), the internationally recognised credit rating agency, for the 2012 year. According to the GCR report, the rating was based upon NNAC’s sound liquidity

In response Kalim Rajab, Executive Director, said, “We see the reaffirmation of our ‘A’ rating as a vote of confidence in the stability of our business as well as in our management. Cognisance was given to the fact that the company continues to underwrite profitably and responsibly. The rating places NNAC at the top end of its peer grouping which is something we are keen to ensure continues. At the end of the day, a company with high claims paying ability and above average protection factors in place stands a much better chance of protecting policyholders.”

He added that he expects NNAC’s top line premium income to be in the region of R1bn this year.