AM Best Assigns Credit Ratings to Accelerant Specialty Insurance Company OLDWICK, N.J. (Business Wire)
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Accelerant Specialty Insurance Company (ASIC) (Little Rock, AR). The company is a wholly owned subsidiary of Accelerant Holdings (Accelerant) (Cayman Islands), the non-operating holding company of the Accelerant group. The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Accelerant’s consolidated balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best Assigns Credit Ratings to Mandal Daatgal JSC
AM Best Assigns Credit Ratings to Mandal Daatgal JSC
AM Best has assigned a Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of bb+ to Mandal Daatgal JSC (Mandal) (Mongolia). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Mandals balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM). Mandals strong balance sheet strength assessment is underpinned by its strongest level of risk-adjusted capitalisation, as measured by Bests Capital Adequacy Ratio (BCAR), albeit the absolute size of its capital and surplus (C&S) remains small. Mandal was the first insurance company to be listed on the Mongolia stock exchange through an initial public offering in 2018. The companys C&S grew by 160% in 2018, supported by both the capital raised from its IP
AM Best Affirms Credit Ratings of Accelerant Insurance Limited
AM Best Affirms Credit Ratings of Accelerant Insurance Limited
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Accelerant Insurance Limited (Malta). The company is a wholly owned subsidiary of Accelerant Holdings (Accelerant) (Cayman Islands), the non-operating holding company of the Accelerant group. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect the strategic importance of Accelerant Insurance Limited to the Accelerant group, along with Accelerants consolidated balance sheet strength, which AM Best categorises as very strong, as well as the groups adequate operating performance, limited business profile and appropriate enterprise risk management.
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AM Best Places Credit Ratings of BNZ Life Insurance Limited Under Review With Negative Implications
December 18, 2020 GMT
SINGAPORE (BUSINESS WIRE) Dec 18, 2020
AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of BNZ Life Insurance Limited (BNZ Life) (New Zealand).
These Credit Rating (rating) actions follow the announcement on 16 December 2020, that National Australia Bank Limited, BNZ Life’s ultimate parent, has entered into an agreement to sell its New Zealand life insurance business, including BNZ Life, to Partners Life Limited (Partners Life). The transaction also includes the establishment of an exclusive 10-year agreement for the referral of Bank of New Zealand customers with life insurance needs to Partners Life. The total transaction consideration is NZD 290 million (US