KUALA LUMPUR, Oct 18 (Bernama) -- A.M. Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of Marble Reinsurance Corporation (Marble Re) Micronesia. The outlook of these ratings is stable.
The ratings reflect Marble Re’s balance sheet strength, which A.M. Best categorised as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The company’s strong balance sheet assessment mainly reflects its modest capital size, low underwriting leverage and conservative investment portfolio, a statement said.
It’s underwriting results over the most-recent five-year period have been consistently positive, contributing to an average combined ratio of under 60 per cent.
The stable outlooks reflect A.M. Best’s expectation that Marble Re’s operating performance will remain at a strong level, underpinned mainly by favorable claims experience and an expense ratio that should remain stable over time.
Marble Re is a wholly owned subsidiary of Marubeni Corporation (Marubeni) -- one of the largest trading companies in Japan while A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. More details on www.ambest.com.
-- BERNAMA
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