BY NKECHI NAECHE-ESEZOBOR—Nigeria’s credit rating agency, Agusto & Co., has upgraded Unitrust Insurance Company Limited credit ratings to “A” (Long Term) and “A1” (Short Term) with a Stable Outlook.
The insurer received a stable outlook reflecting its financial strength, prudent risk management, strong capitalization, and consistent operational performance, reaffirming the company’s position as a trusted player in the Nigerian insurance industry.
Agusto & Co. noted that the new ratings for company reflects the company’s robust balance sheet, strong reinsurance arrangements, and effective risk management framework as key factors supporting the upgrade.
It further positions the company towards becoming an insurer of choice, delivering innovative solutions and long-term value to customers, partners, and stakeholders.
Commenting on the upgraded rating, MD/CEO, Unitrust Insurance Limited, Arowojolu Adedayo, said, this recognition from Agusto & Co. is “a clear validation of our resilience, disciplined underwriting culture, and commitment to excellence.
“We are delighted with Agusto & Co.’s independent recognition of our solid fundamentals and strategic progress. This upgrade reflects our unwavering focus on delivering value to policyholders, strengthening corporate governance, and driving sustainable growth. As we continue to evolve, Unitrust remains committed to innovation, customer-centricity, and operational integrity.
“It also aligns with our company’s continuous drive to uphold global best practices in governance, sustainability, and financial stewardship.”
The new ratings — “A” for Long-Term and “A1” for Short-Term, both with a Stable Outlook — are valid until June 30, 2026, subject to periodic review. Agusto & Co.
About Unitrust Insurance Company Limited
Incorporated in 1981, Unitrust Insurance Company Limited is a leading Nigerian general insurance company licensed to underwrite all classes of non-life insurance business.
With over four decades of experience, Unitrust provides risk solutions designed to protect lives, businesses, and assets through a blend of innovation, expertise, and customer-focused service.
