GCR Ratings (GCR) placed the financial strength rating of L'Africaine des Assurances du Benin (AA Benin) at the national level of BB- (BJ) on “Review Extension” on Friday, September 22.

GCR plans to release updated scoring results by October 31, 2023, with the scoring process underway. The set of risks arising from the political, legal, economic, and social conditions of a country that have negative consequences on investors and creditors exposed to the country, and may also include negative effects on the country's financial institutions and borrowers. GCR claims that no part of the scoring process was influenced by other business activities of the credit rating agency. According to the rating agency, the rating is currently based solely on the merits of the rated entity, security, or financial instrument being rated; and this rating is an independent assessment of the risks and merits of the rated entity, security, or financial instrument