The International Credit Rating Agency (ICRA) has awarded Professional Insurance Corporation Zambia (PICZ) an AA credit rating with a Stable Outlook, recognising the company’s strong financial position, sound corporate governance, and its ability to meet its obligations to policyholders.
Speaking during the presentation of the rating certificate, ICRA Zambia Chief Executive Officer and Director of Africa Operations, Dr David L. Mwambazi, said independent credit ratings play a vital role in strengthening confidence in the insurance sector.
Dr Mwambazi said the ratings provide an objective assessment of an insurer’s financial strength, governance standards, risk management, and capacity to meet its future obligations.
Meanwhile, Professional Insurance Corporation Zambia Managing Director Moses Siame reaffirmed the company’s commitment to honouring its promises to policyholders and maintaining high standards of service.
Credit ratings are designed to promote transparency and confidence by helping policyholders, investors, regulators, brokers, banks, and business partners make informed decisions based on independent assessments rather than assumptions.
By Darius Choonya
