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AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Société Centrale de Réassurance (SCR) (Morocco). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect SCR’s balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
SCR’s balance sheet strength is underpinned by risk-adjusted capitalisation, which was at the strongest level at year-end 2019, as measured by Best’s Capital Adequacy Ratio (BCAR), and is supported by significant unrealised investment gains. SCR continues to benefit from an explicit guarantee provided by the Moroccan state.
AM Best Affirms Credit Ratings of Universal Insurance Company (Guernsey) Limited
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of bbb- of Universal Insurance Company (Guernsey) Limited (UIC) (Guernsey). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect UIC s balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, very limited business profile and marginal enterprise risk management (ERM).
UIC s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best s Capital Adequacy Ratio (BCAR), and considers the company s very conservative investment portfolio. AM Best expects UIC s BCAR scores to remain comfortably in excess of the minimum required for the strongest assessment, with good internal capital generation continuing to support the company s growth. An offsetting factor in the balance sheet
Bao Minh Insurance Corporation's (BMI) overall earnings have been supported over the past five years (2015-2019) by healthy investment returns averaging in excess of 5% per annum, although these returns are expected to decline over the near term given domestic interest rate reductions seen in 2020,
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AM Best Affirms Credit Ratings of Korean Reinsurance Company
December 10, 2020 GMT
HONG KONG (BUSINESS WIRE) Dec 10, 2020
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Korean Reinsurance Company (KRE) (South Korea). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect KRE’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.
KRE’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), is assessed as being at the strongest level, supported by solid and stable internal capital generation over the past five years. The impact of a series of share buybacks in 2020, which amounted to approximately 4% of the company’s capital and
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Colonnade Insurance S.A. (Colonnade) (Luxembourg), a member of Fairfax Financial Holdings Limited