Johannesburg - Credit Ratings (GCR) has affirmed the claims paying ability of Santam at AAA (ZA)‚ with a stable rating outlook.
“The rating is supported by Santam’s formidable competitive position and is underpinned by its very strong franchise value‚ superior diversification and market expertise‚ and an extensive distribution network within SA”.
“At an industry level‚ successful growth strategies have been demonstrated by players able to navigate both traditional markets and product types‚ while supplementing a commoditised portfolio with alternative and specialised products via effective‚ modern distribution channels‚” the ratings agency said.
“Santam has multifaceted operations‚ enabling the insurer to compete effectively in diversified market spaces. In light of this position‚ Santam is viewed as well placed to attract high quality business‚ while retaining key portfolios‚ and capturing new blocks of revenue‚” said GCR.