Elite Insurance has announced that the company has beeen assigned an IFS rating of BBB- by Fitch.
The key rating drivers behind the rating decision name adequate capitalisation, strong underwriting performance and a conservative investment strategy, among them. Strong corporate governance also features highly.
The announcement comes after over 10 years of operating in the insurance market without a rating. CEO, Jason Smart said “Despite the negative press often targeted at unrated insurers, as a business we have gone from strength to strength, never finding our lack of a rating a barrier to business. However, this reflects the true strength of our business and there is no doubt a rating at this time will give us a further competitive edge, opening up the market even more to us. I would like to express my heartfelt thanks to the brilliant team at Elite as well as our business partners who have shared in, and made possible, our successes”.
