New National's rating reaffirmed

New National Assurance Company (NNAC) is pleased to announce the reaffirmation of its credit rating by GCR at A(ZA) with a Stable outlook notification.

The A(_ZA) rating has been conferred on NNAC for four consecutive years, dating back to 2011.  Cognisance was taken of NNAC’s strong underwriting profitability track record which has evidenced a high degree of aggregate stability, as well as an investment strategy which has underpinned strong liquidity metrics, together with sound capital adequacy.  In response Kalim Rajab, Strategic Director, commented, “During the year under review NNAC grew to become South Africa’s largest empowered short term insurer. We continue to perform at the top end of our peer group, and this rating is recognition of this. We look forward to working with our broker and administrator partners over the next 12 months as we look to further strengthen our performance in this period.”