Joy Agwunobi
Agusto & Co. Limited, Nigeria’s leading credit rating agency, has upgraded Unitrust Insurance Company Limited to an “A” (Long-Term) and “A1” (Short-Term) rating, both carrying a Stable Outlook. The new ratings, valid until June 30, 2026, reaffirm the insurer’s financial strength, prudent risk management, and consistent operational excellence within the Nigerian insurance landscape.
The independent assessment reflects Unitrust Insurance’s strong capitalization, robust balance sheet, and sound reinsurance arrangements, which have positioned the company as a trusted and resilient player in the market. Agusto & Co. also noted the firm’s effective risk management framework and sustained profitability as key factors supporting the upgrade.
Reacting to the development, Adedayo Arowojolu, managing director/chief executive officer of Unitrust Insurance, described the rating as a clear endorsement of the company’s resilience, disciplined underwriting culture, and long-term strategic vision.
“We are delighted with Agusto & Co.’s independent recognition of our solid fundamentals and strategic progress,” Arowojolu said, “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.”
The new ratings, according to the company, mark a significant milestone in its journey toward becoming the insurer of choice in Nigeria. They also highlight the company’s commitment to maintaining global best practices in corporate governance, sustainability, and financial stewardship.
With this latest recognition, Unitrust Insurance has reinforced its position as one of Nigeria’s financially stable and forward-looking insurers—poised to continue providing innovative risk solutions and long-term value to its customers, partners, and stakeholders.
