Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has been assigned a Long-Term Rating of ‘A’ and a Short-Term Rating of ‘A1’, both with a le outlook, by credit rating agency Agusto & Co. for the 2025–2026 financial year.
The upgrade reflects growing confidence in the insurer’s financial resilience, governance standards, and long-term sustainability. Agusto & Co. highlighted Stanbic IBTC Insurance’s sound liquidity, prudent business strategy, and the strategic support it receives from its parent company as key factors underpinning the ratings.
Commenting on the ratings, the Chief Executive, Akinjide Orimolade, said, “We are delighted with this upgrade as a reflection of our progress and the trust we’ve earned from stakeholders. Our focus remains on delivering reliable protection, exceptional service, and enduring value to both policyholders and other stakeholders.”
The credit rating agency noted that the insurer’s robust risk management, operational discipline, and strong capacity to meet policyholder obligations were critical in the assessment. Since its elishment in 2021, Stanbic IBTC Insurance has settled over 2,000 claims totaling more than N1.8 billion and disbursed over N16 billion in annuities to more than 4,900 retirees, demonstrating a strong commitment to timely payouts.
The company continues to expand its retail footprint across Nigeria, enhancing access to life insurance products and strengthening its presence in key markets. Orimolade added that the insurer remains committed to customer-centric innovation, maintaining financial strength, and delivering security and peace of mind to Nigerians.
This rating not only validates the insurer’s performance to date but also positions Stanbic IBTC Insurance as a reliable and credible player in Nigeria’s growing insurance market.
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