Britam General Insurance Company (Kenya) Limited has received an upgrade of its financial strength rating to A (KE) from BBB+ (KE), following improved financial performance and stronger business operations.
The upgrade was announced by GCR Ratings, an affiliate of Moody’s and one of Africa’s leading credit rating agencies, which also revised the insurer’s outlook from Positive to Stable.
GCR said the new rating reflects Britam General Insurance’s strengthened financial position, consistent performance, strategic importance within Britam Holdings Plc, and its growing contribution to the wider group.
The rating upgrade follows a strong 2025 financial performance in which the insurer recorded a profit of Ksh1.4 billion.
An A (KE) rating indicates that the company has a strong ability to meet its financial obligations, although it remains exposed to economic risks compared to businesses with higher ratings.
According to GCR, Britam General Insurance contributed 36.6 per cent of Britam Group’s total insurance revenue in 2025, while continuing to improve earnings, capital strength and operational efficiency.
Britam General Insurance CEO and Principal Officer James Mbithi said the upgraded rating reflects the company’s financial discipline and commitment to delivering value to customers and shareholders.
“This upgrade is a strong endorsement of our financial resilience, disciplined execution, and customer-centric approach to insurance. It reflects the confidence that independent rating agencies have in our business fundamentals and our ability to honour commitments to policyholders while delivering sustainable growth,” Mbithi said.
He added that the company would continue focusing on maintaining strong capital levels, developing innovative insurance products and creating long-term value for stakeholders.
The insurer’s improved performance was supported by lower claims costs, increased operational efficiency and stronger investment returns.
Britam General Insurance has also continued investing in digital transformation initiatives aimed at improving customer access to insurance services and simplifying policy management.
GCR noted that the rating also reflects the strength of the wider Britam Group, which has continued expanding its regional presence while maintaining prudent risk management and financial discipline.
Britam General Insurance was recently recognised at the Association of Kenya Insurers (AKI) Awards 2025, winning the General Insurance Company of the Year Award, Most Improved General Insurance Company Award, and the General Insurance Innovation Award.