AM Best Places Credit Ratings of Custodian and Allied Insurance Limited Under Review With Negative Implications

LONDON--(BUSINESS WIRE)-- #insurance--AM Best has placed under review with negative implications the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Custodian and Allied Insurance Limited (CAIL) (Nigeria). CAIL is the non-life insurance subsidiary of Custodian Investment Plc. The Credit Ratings (ratings) of CAIL have been placed under review with negative implications following a series of material Nigerian Naira devaluations spanning 2023 and 2024. Although th