NAIROBI, Kenya, June 30 – Britam General Insurance Company (Kenya) has received a ratings upgrade from GCR Ratings after posting stronger profitability, improved operational efficiency and a stronger contribution to the performance of its parent company.
GCR raised the insurer’s national scale financial strength rating to A (KE) from BBB+ (KE) and revised its outlook to Stable from Positive, citing improved earnings, sound capitalisation and the company’s strategic importance within Britam Holdings.
The ratings agency said Britam General Insurance accounted for 36.6 percent of the group’s total insurance revenue in 2025, highlighting its growing role in the business.
The upgrade follows a strong financial year in which the insurer reported Sh1.4 billion in profit after tax, supported by lower claims costs, improved operational efficiency and higher investment income.
Britam General Insurance Chief Executive Officer James Mbithi said the improved rating reflects the company’s financial resilience and disciplined approach to growing its business.
The company has also stepped up investment in digital platforms to make it easier for customers to buy and manage insurance products while improving service delivery.
According to GCR, the insurer continues to benefit from the financial strength of Britam Holdings, which has operations in seven African countries and has maintained prudent risk management and capital discipline.
The improved rating is expected to strengthen the insurer’s standing in the market and boost confidence among customers and business partners.
Britam said it plans to continue investing in innovation and customer-focused insurance products as it seeks to grow its business and expand insurance penetration in Kenya and the wider region.
The insurer was recently named General Insurance Company of the Year at the 2025 Association of Kenya Insurers (AKI) Awards, where it also won awards for innovation and most improved general insurer.
