AM Best Affirms Credit Ratings of Lumen Re Ltd yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
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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 Lumen Re Ltd. (Lumen Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Lumen Re s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
Lumen Re s risk-adjusted capital, as measured by Best s Capital Adequacy Ratio (BCAR), is at the strongest level. Its liquidity, asset/liability management, quality of assets and use of internal capital models provide ample support of its balance sheet assessment. Partially offsetting these rating factors is Lumen Re s relatively high dependence on third-party retrocession. However, all retrocession will be written on a fully collateralized basis, thus minimizing its exposure to losses and third-party credit risk. The company s leverage, as measu
AM Best Affirms Credit Ratings of Dubai Insurance Company (PSC)
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of Dubai Insurance Company (PSC) (DIC) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect DIC s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
DIC s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best s Capital Adequacy Ratio (BCAR), supported by strong organic capital generation. The assessment also factors in the company s sufficient liquidity and prudent reserving, which incorporates buffers over the actuarial best estimate. An offsetting factor in the balance sheet strength assessment is the company s high dependence on reinsurance, as evidenced by
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AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a (Excellent) to Nectaris Re Ltd. (Nectaris Re), the operating subsidiary of Nectaris Holdings Ltd. (both domiciled in Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Nectaris Re s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
According to Nectaris Re s business plan, the company s business strategy is to retrocede all of its business to Horseshoe Re II Limited segregated accounts company (Horseshoe Re II) with cells that are funded by insurance-linked securities funds managed by Leadenhall Capital Partners LLP (Leadenhall). Leadenhall is a subsidiary of Mitsui Sumitomo Insurance Company, Limited (a subsidiary of MS&AD Insurance Group Holdings, Inc. or MS&AD). Leadenhall, which has a Mu