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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Scotia Reinsurance Limited (Scotia Re) (Barbados). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Scotia Re’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect rating enhancement from the company’s sister entity, Scotia Insurance (Barbados) Limited (SIB), based on the transfer of the original block of business in 2017
Scotia Re is primarily a life reinsurance subsidiary that assumes non-Canadian business, largely from Mexico, South and Central America and the Caribbean, sourced through retail operations of the company’s ultimate parent, The Bank of Nova Scotia (Scotiabank). The initial book of business was assumed in 2017 from SIB, which
OLDWICK - JUNE 09, 2021 02:35 PM (EDT)
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of a+ (Excellent) of Scotia Insurance (Barbados) Limited (Scotia Insurance) (Barbados). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Scotia Insurance s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
Scotia Insurance is primarily a life reinsurer that ultimately is owned by The Bank of Nova Scotia (Scotiabank). Scotia Insurance principally reinsurers credit insurance policies underwritten by major third-party life insurance carriers on consumer loans originated by Scotiabank s retail operations throughout Canada. The company has a long history of favorable underwriting results that have continued through 2020 despite challenges brought on from operating in the COVID-19 pandemic
AM Best : Revises Outlooks to Positive for CMB Wing Lung Insurance Company Limited
06/04/2021 | 11:32am EDT
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AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of CMB Wing Lung Insurance Company Limited (CMBWLI) (Hong Kong).
The Credit Ratings (ratings) reflect CMBWLI’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and marginal enterprise risk management.
The revised outlooks to positive from stable reflect CMBWLI’s improvement in investment risk control and governance, risk identification and monitoring tools, and risk quantification capability. AM Best expects the company’s risk management framework to become more developed and better aligned with market practices, partially driven by regulatory initiatives to stren