GCR Ratings, an affiliate of Moody's, has upgraded the financial strength rating of Britam General Insurance Company (Kenya) Limited to A (KE) from BBB+ (KE), citing the insurer's strong financial position and consistent business performance.

🇰🇪 Breaking It Down

The rating agency also revised the company's outlook to Stable from Positive, reflecting confidence in its ability to sustain its improved financial and operational performance.

The upgrade follows Britam General Insurance's strong 2025 financial results, which saw the company post a profit of Ksh1.4 billion.

An A (KE) rating indicates that the insurer has a high capacity to meet its financial commitments, although it remains somewhat susceptible to adverse changes in economic conditions compared to higher-rated entities.

📌 What You Need to Know

GCR, Africa's leading rating agency, attributed the upgrade to Britam General Insurance's strategic importance within Britam Holdings Plc, sound financial management, consistent business performance, and growing contribution to the Group's overall success.

According to GCR, Britam General Insurance contributed 36.6 per cent of the Group's total insurance revenue in 2025 while continuing to strengthen its earnings, capital position, and operational efficiency.

Commenting on the upgrade, Britam General Insurance Chief Executive Officer and Principal Officer James Mbithi said the rating affirms the company's focus on creating long-term value for customers and shareholders.

"This upgrade is a strong endorsement of our financial resilience, disciplined execution, and customer-centric approach to insurance. It reflects the confidence that independent rating agencies have in our business fundamentals and our ability to honour commitments to policyholders while delivering sustainable growth," said Mbithi.

He added, "The upgrade reinforces our commitment to maintaining strong capital, delivering innovative insurance solutions, and creating sustainable value for our customers and other stakeholders."

Britam General Insurance's performance was supported by lower claims experience, improved operational efficiency, and stronger investment income.

📰 Source: Kenyans.co.ke