AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a+' of
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect
AM Best considers
The 2019 year-end results reflect the company's pinpointed growth strategy that has allowed it to post a lower combined ratio (70.7%) in comparison with the previous year, on the back of diminishing acquisition costs from its life offerings. Results through
The company benefits from its integration into the Chubb group, gaining operational advantage through the same systems, procedures and ERM practices. The group has demonstrated its support to
Positive rating actions are not expected; however, AM Best's view on the company's operating performance could improve in the medium term if underwriting results result in a positive trend in operating performance while its capital base grows. Negative rating actions could occur if there is a sharp deterioration in operating performance or a significant weakening of its risk-adjusted capitalization. The ratings could be downgraded if AM Best determines that
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of AM Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
Evaluating Country Risk (Version
Understanding Universal BCAR (Version
Catastrophe Analysis in A.M. Best Ratings (Version
Available Capital & Holding Company Analysis (Version
Scoring and Assessing Innovation (Version
View a general description of the policies and procedures used to determine credit ratings. For information on the meaning of ratings, structure, voting and the committee process for determining the ratings and monitoring activities, please refer to Guide to Best's Credit Ratings.
Previous Rating Date:
Date Range of Financial Data Used:
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