HONG KONG - MAY 12, 2021 01:15 PM (EDT)
AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ (Good) of Century Insurance Company (Guam) Limited (CIC Guam) (Guam). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect CIC Guam s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
These ratings were initially placed under review on 3 July 2019, following an announcement that DB Insurance Co., Ltd. (DBI) entered into an agreement with CIC Guam s parent company, Tan Holdings Corporation (THC), to acquire an 80% stake in each of THC s three insurance subsidiaries, including CIC Guam and two other insurers in Saipan and Papua New Guinea. Based on AM Best s recent exchange with company management, THC and DBI have t
AM Best Removes From Under Review With Positive Implications, Affirms Credit Ratings of Century Insurance Company (Guam) Limited morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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AM Best Revises Outlooks to Negative for Reunion Re Compañia de Reaseguros S.A.
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of âbbbâ of Reunion Re Compañia de Reaseguros S.A. (Reunion Re) (Argentina). The outlooks of these Credit Ratings (ratings) have been revised to negative from stable.
The ratings reflect Reunion Reâs balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The revision of the outlooks to negative from stable reflects pressure on Reunion Reâs balance sheet driven by a more challenging macroeconomic environment in Argentina and volatility in reinsurance recoverables.
LONDON - MAY 06, 2021 12:31 PM (EDT)
AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to bb+ from bbb- of Al-Sagr National Insurance Company P.S.C. (ASNIC) (United Arab Emirates). The outlook for each Credit Rating (rating) has been revised to stable from negative.
The ratings reflect ASNIC s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
The rating downgrades reflect a material deterioration in ASNIC s risk-adjusted capitalisation to the very strong level, as measured by Best s Capital Adequacy Ratio (BCAR), reflecting lower shareholders funds due to two consecutive years of accounting restatements.