SINGAPORE, June 2 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of ACR ReTakaful Berhad (ACRR Berhad) (Malaysia), the wholly owned subsidiary of ACR ReTakaful Holdings Limited, which is ultimately owned by Asia Capital Reinsurance Group Pte. Ltd. The outlook of the FSR remains stable, while the outlook of the Long-Term ICR remains negative. Concurrently, A.M. Best has withdrawn these Credit Ratings (ratings), as the company has requested to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect ACRR Berhad’s strong risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and its good liquidity ratios. The negative outlook of the Long-Term ICR reflects the company’s lack of a commercially viable business profile.
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