SINGAPORE, Aug 13 (Bernama-BUSINESS WIRE) -- A.M. Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” from “a-” of ERGO Insurance Pte. Ltd. (ERGO Insurance) (Singapore). The outlook of the Long-Term ICR has been revised to negative from stable, while the FSR outlook remains stable.
The ratings reflect ERGO Insurance’s balance sheet strength, which A.M. Best categorizes as strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management.
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