FANews
FANews
RELATED CATEGORIES

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

23 July 2012 New National Assurance Company (?NNAC?)

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.

Quick Polls

QUESTION

What is your one-liner for the 2024 National Budget speech?

ANSWER

Creepy failure to adjust income tax, medical tax credits
Overall happy, it should support economic growth
Overall unhappy, soaring public sector wages and broken SOEs suck..
There are too few taxpayers, too many grant recipients.
fanews magazine
FAnews February 2024 Get the latest issue of FAnews

This month's headlines

On the insurance industry’s radar in 2024
Insurers, risk managers unsure of AI’s judgement credentials
Is offshore the place to be in 2024?
Gap claims: erosion of medical benefits, soaring specialist fees
Investments and retirement… is conventional wisdom under threat?
Subscribe now