Moody’s Investors Service (Moody’s) has affirmed the African Trade Insurance Agency’s (ACA) A3 Insurance Financial Strength Rating (IFSR), according to a press release posted on its website on March 2, 2023. This is the fifth consecutive affirmation in as many years.
In addition, Moody’s has revised the ACA’s outlook from stable to positive. This will put ACA in a better position not only to continue supporting its member countries, but also to attract new shareholders and grow its portfolio. This has been achieved in a challenging operating environment.
Moody’s said that the ACA’s rating could be strengthened by the continued demonstration of strong underwriting performance and the ability to collect claims against preferred creditor agreements, strong capital adequacy and the ability to maintain strong support in reinsurance.
