HONG KONG, April 25 (Bernama-BUSINESS WIRE) -- A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" to Peak Reinsurance AG (Peak Re AG) (Switzerland). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Peak Re AG's sound business plan, supportive risk-based capitalization and retrocession support provided by its parent company, Peak Reinsurance Company Limited (Peak Re). Peak Re established a Zurich branch office in September 2015. In December 2016, the Swiss Financial Market Supervisory Authority (FINMA) awarded Peak Re AG a subsidiary license to underwrite non-life reinsurance business. A.M. Best expects Peak Re AG to operate with a high degree of integration with Peak Re, which will include retrocession support and the sharing of branding and core operational functions such as underwriting, pricing, marketing, reserving and risk management.
The ratings reflect Peak Re AG's sound business plan, supportive risk-based capitalization and retrocession support provided by its parent company, Peak Reinsurance Company Limited (Peak Re). Peak Re established a Zurich branch office in September 2015. In December 2016, the Swiss Financial Market Supervisory Authority (FINMA) awarded Peak Re AG a subsidiary license to underwrite non-life reinsurance business. A.M. Best expects Peak Re AG to operate with a high degree of integration with Peak Re, which will include retrocession support and the sharing of branding and core operational functions such as underwriting, pricing, marketing, reserving and risk management.
No comments:
Post a Comment