LONDON–(BUSINESS WIRE)–A.M. Best has downgraded the Financial Strength Rating to C++ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Ratings to “b+” from “bb-” of Wapic Insurance Plc (Wapic) (Nigeria), the operating holding company of the Wapic group of companies. The outlook of these Credit Ratings (ratings) is stable. The rating downgrades reflect the material decline in Wapic’s risk-adjusted capitalisation in 2015 and the expectation for this deterioration to continue over the me
