Britam General Insurance Company (Kenya) Limited has received an upgrade to its national financial strength rating from GCR Ratings following improved profitability, stronger capitalisation and operational performance in 2025.
The insurer’s national scale financial strength rating was raised to A (KE) from BBB+ (KE), while the outlook was revised to Stable from Positive.
GCR Ratings attributed the upgrade to Britam General Insurance’s strategic importance within Britam Holdings Plc, consistent earnings growth, sound financial management and its growing contribution to the group’s overall performance.
According to the ratings agency, the insurer accounted for 36.6 per cent of Britam Group’s total insurance revenue in 2025, underscoring its significance to the listed financial services group.
The upgrade follows a year of improved financial performance in which Britam General Insurance reported a profit after tax of KSh1.4 billion, supported by lower claims costs, improved operational efficiency and stronger investment income.
The insurer also strengthened its capital position and earnings, factors that contributed to the improved assessment of its financial strength.
Britam General Insurance Chief Executive Officer and Principal Officer James Mbithi said the new rating reflects the company’s financial resilience and operational execution.
“This upgrade is a strong endorsement of our financial resilience, disciplined execution and customer-centric approach to insurance,” Mbithi said.
During the year, the insurer invested in operational improvements, customer service and digital platforms aimed at expanding access to insurance products and improving service delivery.
The latest ratings action also reflects the broader financial position of Britam Holdings, which operates across several East and Southern African markets and has continued to strengthen its balance sheet while maintaining prudent risk management practices.
A higher financial strength rating is generally viewed positively by investors, corporate clients and policyholders, as it signals an insurer’s ability to meet policyholder obligations and withstand financial shocks.
The upgrade comes at a time when Kenya’s insurance sector is focusing on profitability, capital adequacy and digital transformation amid increasing regulatory requirements and changing customer expectations.
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