Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of Insignia Life S.A. de C.V.
March 5, 2021 GMT
MEXICO CITY (BUSINESS WIRE) Mar 5, 2021
AM Best has affirmed the Financial Strength Rating of B+ (Good), the Long-Term Issuer Credit Rating of “bbb-” and the Mexico National Scale Rating of “aa-.MX” of Insignia Life S.A. de C.V. (Insignia) (Mexico). The outlook of these Credit Ratings (ratings) is positive.
The ratings reflect Insignia’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
AM Best Affirms Credit Ratings of Kuwait Insurance Company S.A.K.P.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Kuwait Insurance Company S.A.K.P. (KIC) (Kuwait). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect KIC 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.
KIC s balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best s Capital Adequacy Ratio (BCAR). Further support to the balance sheet strength assessment stems from KIC s consistent internal capital generation and prudent reserving. Offsetting factors include KIC s high dependence on reinsurance, although the associated counterparty risk is partially mitigated by the use of a reinsurance panel of strong credit quality. In addition,
Posted on 17299
AM Best has assigned the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” to Austral Participações S.A. (Austral). The outlook assigned to this Credit Rating is positive. Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” of Austral Resseguradora S.A. (Austral Re) and Austral Seguradora S.A. The outlook of these Credit Ratings (ratings) is positive. All companies are domiciled in Brazil, and collectively are referred to as Austral Participacoes S.A. (Austral).
The ratings reflect Austral’s 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.
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AM Best has affirmed the Financial Strength Rating of A-(Excellent), the Long-Term Issuer Credit Rating of “a-” and the Mexico National Scale Rating of “aaa.MX” of Virginia Surety Seguros de México S.A. de C.V. (VSSM) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect VSSM’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The ratings also reflect the company’s balance sheet strength assessed at a strong level since it began operations in Mexico. The ratings of VSSM also factor its recent affiliation and strategic importance to
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Withdraws Credit Ratings of Church Life Insurance Corporation
February 26, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Feb 26, 2021
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Church Life Insurance Corporation (Church Life) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
The ratings reflect Church Life’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.