GCR upgrades Enterprise Insurance’s credit rating
Ernestina Abeh, Managing Director - Enterprise Insurance The Global Credit Rating Agency of South Africa (GCR) has upgraded Enterprise Insurance Company Limited’s (EIC) credit rating from A+ to AA-. The upgrade of EIC’s rating is a reflection of consistent good corporate governance practices and sustained strength in underwriting capabilities. This has led to an improvement in capitalization as well as fulfilling our claim payment obligations quickly due to high liquidity. These attributes and more qualifies Enterprise Insurance to have been rated higher than the previous years and among its peers in the General Insurance industry. GCR traces its origins back to 1996 when it was established as the African arm of the New York Stock Exchange-listed Duff & Phelps. In South Africa, GCR is registered as a Credit Rating Services Provider by the Financial Services Conduct Authority. GCR is also recognized as an eligible External Credit Assessment Inst...