S&P rates ENSA Seguros B-

S&P said it assigned its B- long-term issuer credit rating to ENSA Seguros de Angola SA.

The outlook is stable.

“ENSA Seguros de Angola, 100%-owned by the Angolan government, boasts leading market positions in Angola's health and property/casualty insurance sectors, supported by an expansive branch network,” the agency said in a news release.

“We note that ENSA is exposed to high country risk, given that it carries property concentration in the Angolan market, and the low weighted-average credit quality of its investment portfolio and minimal liquidity levels are key constraints to our assessment of its financial risk profile.”

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