Global Credit Rating (GCR), revises the financial strength rating of Leadway Assurance Nigeria. The insurance company sees its rating changed from AA-(NG) to AA(NG) with a Stable outlook.

The South African Financial Rating Agency, has revised the nationwide rating of Leadway Assurance Company Limited. The South African ratings giant pointed out that the insurer's nationwide financial strength rating reflects its strong financial profile, complementing an intermediate business profile. The financial institution noted a significant loss of market share in fiscal 2020 due to the slowdown in annuity writing during the year, which resulted in a notable reduction of 41% in gross written premiums ( “GWP”). GCR expects a gradual balancing of the premium mix, given several strategic retail initiatives put in place by the insurance company.