'A' Rating

For the 2024/2025 year, NNAC has an ‘A’ rating for claims-paying ability, with a stable outlook, according to Global Credit Ratings (GCR). This represents the 13th consecutive year that we have achieved our ‘A’ rating.

According to the GCR report, its review was based on a comprehensive review of NNAC’s performance metrics including our liquidity, capitalisation, earnings and business profile.

In response Managing Director Kalim Rajab said: “At NNAC, we take our role as an absorber of societal risk seriously. The decisions we take and the planning we do are necessarily long term in nature which is why I’m proud of our credit rating. It also underscores our credentials as the largest black-owned short-term insurer in South Africa. At the end of the day, a company with high claims paying ability and above average protection factors in place stands a much better chance of protecting policyholders.”

NNAC writes all major classes of short term insurance risk, focusing on retail, corporate, commercial, engineering and marine activity.