Fidelidade Moçambique (insurance company) has once again had its financial strength reaffirmed by international rating agency AM Best, which has maintained its ratings of ‘B’ (Fair) for Financial Strength Rating and ‘BB’ (Fair) for Long-Term Issuer Credit Rating.
Both ratings remain with a stable outlook, reflecting the insurer’s solid position in the Mozambican market.
According to a statement that Diário Económico had access to on Monday (26), this continued recognition underlines the outstanding position of Fidelidade Moçambique, which by 2023 had established itself as the country’s second largest insurer in terms of gross premiums written.
For Curratilaine Remane, executive director of Fidelidade Moçambique, the reaffirmation of the ratings by AM Best is ‘proof of the resilience and effectiveness of the company’s risk management strategy’.
He said that the insurance company he represents is committed to continuing to serve its clients with dedication and quality.
AM Best also highlighted Fidelidade Moçambique’s solid operating results, evidenced by a five-year weighted average combined ratio of 81.7 per cent and a return on equity of 15.1 per cent.
Remane emphasised the importance of balancing innovation and tradition in the company’s strategy. ‘We are continually innovating in our products and services, but without ever forgetting our commitment to quality and the trust we have built up over the years.
This recognition is a reflection of our commitment to contributing to the sustainable development of Mozambique,’ he said.
The document also states that, with the inclusion of the health branch in 2022, the company faced new challenges, especially in an inflationary context and with the increased use of post-pandemic services, but managed to maintain a positive performance.
