Africa’s largest credit rating company, GCR, has upgraded Britam General Insurance Company (Kenya) Limited’s national-scale financial strength rating to A (KE) from BBB+ (KE).
In the latest assessment by GCR Ratings, one of Africa’s leading credit rating agencies, Britam’s outlook was also revised to Stable from Positive, reflecting stronger financial fundamentals, disciplined risk management and consistent business performance.
“GCR Ratings (GCR) has upgraded the national scale financial strength rating of Britam General Insurance Company (Kenya) Limited (Britam General Kenya or the insurer) to A(KE) from BBB+(KE) with the outlook revised to Stable from Positive,” read part of the statement.
Britam General Insurance Upgraded to A (KE) Rating by GCR
GCR stated that the upgrade reflects Britam General Insurance’s strengthened market position, sound capitalization, disciplined risk management and sustained underwriting performance.
The agency also recognized the insurer’s growing strategic importance within Britam Holdings Plc, citing its expanding contribution to the Group’s overall financial results.
The insurer generated 36.6 percent of the Group’s total insurance revenue in 2025, reinforcing its position as one of the key drivers of Britam’s business.
GCR further highlighted improvements in earnings quality, operational efficiency and capital strength as factors supporting the higher rating.
Also Read: Britam Awards Over KSh60 Million in Contracts to Women and Youth-Owned Businesses
Financial Resilience
Britam General Insurance Chief Executive Officer and Principal Officer James Mbithi said the upgrade demonstrates the company’s ability to maintain financial resilience while delivering value to policyholders and other stakeholders through disciplined execution and sustainable growth.
“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,” said Mbithi.
Also Read: Britam Awards Over KSh60 Million in Contracts to Women and Youth-Owned Businesses
The improved rating comes after the insurer recorded KSh1.4 billion in profit after tax in 2025, driven by lower claims costs, improved investment returns, and tighter cost management.
During the past year, Britam General Insurance invested in digital platforms to improve access to insurance products and services and enhance the overall customer experience.
GCR also cited the financial strength of the wider Britam Group, whose prudent governance, regional expansion, and effective risk management continue to support the insurer’s long-term stability.
With the higher rating, Britam General Insurance says it will continue to pursue innovation, expand customer-focused insurance solutions, and strengthen its position in Kenya’s insurance market as it seeks to deliver sustainable growth and long-term financial security for its customers.
Follow our WhatsApp Channel and X Account for real-time news updates.
