Fitch affirms National Insurance Trust Fund at ‘AA-‘; outlook stable

Fitch Ratings Lanka has affirmed Sri Lanka-based National Insurance Trust Fund Board’s (NITF) National Insurer Financial Strength (IFS) Rating at ‘AA-(lka)’. The Outlook is Stable.

The affirmation reflects NITF’s ‘Favourable’ business profile, meaningful recovery in its financial performance, satisfactory regulatory capital position as well as its conservative investment mix.

These positives are somewhat counterbalanced by the insurer’s exposure to catastrophe risks which bring some volatility to its operating performance and capital position.