GCR withdraws Emeritus Reinsurance Company South Africa Limited’s ratings

18 Apr 2017 In Market Alerts

GCR withdraws Emeritus Reinsurance Company South Africa Limited’s ratings

Johannesburg, 18 Apr 2017—Global Credit Ratings has today withdrawn both the national and international scale claims paying ability ratings assigned to Emeritus Reinsurance Company South Africa Limited. The withdrawal was at the request of the client, following the shareholders’ decision to discontinue business operations in South Africa. The shareholders plan to transfer the reinsurance business generated from South Africa to a fellow regional office in Botswana. Accordingly, GCR will no longer provide ratings or analytical coverage of Emeritus Reinsurance Company South Africa Limited.

 

NATIONAL SCALE RATINGS HISTORY   INTERNATIONAL SCALE RATINGS HISTORY  
       
Initial rating (August 2014)   Initial rating (August 2014)  
Claims paying ability: BB+(ZA)   Claims paying ability: BB  
Outlook: Stable   Outlook: Negative  
       
Last rating (September 2016)   Last rating (September 2016)  
Claims paying ability: BB+(ZA)   Claims paying ability: B+  
Outlook: Stable   Outlook: Stable  

 

ANALYTICAL CONTACTS

Primary Analyst   Committee Chairperson
Yvonne Mujuru   Marc Chadwick
Sector Head: Insurance Ratings   Sector Head: Insurance Ratings
(011) 784-1771   (011) 784-1771
.(JavaScript must be enabled to view this email address)   .(JavaScript must be enabled to view this email address)

 

 

 

 

 

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