AM Best Affirms Credit Ratings of Halyk-Life, JSC
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of bbb- of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC (Halyk-Life) (Kazakhstan). Halyk-Life is a wholly owned subsidiary of JSC Halyk Bank, a leading retail bank in Kazakhstan. The outlook of these Credit Ratings (ratings) is positive.
The ratings reflect Halyk-Life s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
The positive outlooks reflect improvements in Halyk-Life s operating performance metrics observed in recent years.
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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Compañía Internacional de Seguros, S.A. (CIS) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect CIS’ balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
CIS’ overall strength is underpinned by its risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), historically positive technical and bottom-line results, its leading position in Panama’s insurance market, a strong reinsurance program, a seasoned management team, solid risk-management practices and increased geographic diversification through Aseguradora del Istmo (ADISA) S.A.
S&P affirms Power Grid s BBB-minus rating with stable outlook ANI | Updated: Feb 11, 2021 16:57 IST
Singapore, Feb 11 (ANI): S&P Global Ratings has affirmed BBB-minus long-term issuer credit rating on Power Grid Corporation, the largest power transmission company in India which manages about 85 per cent of the country s inter-state transmission system. We forecast the company s leverage will improve steadily with a ratio of funds from operations to debt of 15 to 19 per cent over the three fiscal years ending March 2023 from about 13 per cent in fiscal 2020, said S&P.
Capital spending is likely to decrease from historical peak levels of Rs 22,500 crore to Rs 25,000 crore annually, given fewer growth projects. Also, the completion of several large projects has removed transmission bottlenecks and strengthened the transmission system in India.
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of First Insurance Company
February 8, 2021 GMT
LONDON (BUSINESS WIRE) Feb 8, 2021
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of First Insurance Company (Solidarity First Insurance Company or SFIC) (Jordan). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect SFIC’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider, in the form of lift, SFIC’s strategic importance to its parent company, Solidarity Group Holding BSC (c), a leading provider of Islamic insurance solutions in Bahrain and Jordan.