HONG KONG, Sept 3 (Bernama-BUSINESS WIRE) -- A.M. Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” to The Toa 21st Century Reinsurance Company, Ltd. (TTFC) (Switzerland). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a+” of The Toa Reinsurance Company, Limited (Toa Re) (Japan) and The Toa Reinsurance Company of America (TRA) (headquartered in Morristown, NJ). The outlook of these ratings is stable. TTFC is a newly added member of Toa Re, of which TRA is the other member.
The ratings of Toa Re reflect the company’s consolidated balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Toa Re’s balance sheet strength is assessed at the strongest level, owing to its conservative risk management in its underwriting and investment strategies. The company’s risk-adjusted capitalization has improved significantly in the past five years from stable and positive operating results. Despite a series of catastrophe events in North America, the company maintained profitable underwriting results in fiscal year 2017. Offsetting rating factors include limited growth opportunities in Japan’s domestic reinsurance market and intense competition in the global reinsurance market, owing to abundant capacity.
http://mrem.bernama.com/viewsm.php?idm=32603
No comments:
Post a Comment