Best’s News & Research Service - April 16, 2015 12:10 PM (EDT)
A.M. Best Withdraws Ratings of Ageas Insurance Company (Asia) Limited
- April 16, 2015 12:10 PM (EDT)
Singapore //BestWire// - A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Ageas Insurance Company (Asia) Limited (AICA) (headquartered in Hong Kong). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings in response to the company's request to no longer participate in A.M. Best's interactive rating process.
The rating affirmations reflect AICA's favorable risk-adjusted capitalization and its highly liquid asset portfolio. These positive rating factors are partially offset by the potential for volatility in AICA's statutory solvency ratio, as well as the relatively modest profitability of its life insurance business.
The methodology used in determining these interactive ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
- Insurance Holding Company and Debt Ratings
- Rating Members of Insurance Groups
- Risk Management and the Rating Process for Insurance Companies
- Understanding Universal BCAR
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best's Ratings & Criteria Center .
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