KUALA LUMPUR, Dec 22 (Bernama)-- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Asia Capital Reinsurance Group Pte. Ltd. (Asia Capital Re) (Singapore) (Malaysia) and of Asia Capital Reinsurance Malaysia Sdn. Bhd (ACRM) (Malaysia). A.M. Best has also affirmed the ICR of “bbb-” of ACR Capital Holdings Pte. Ltd. (ACR) (Singapore). The outlook for all ratings is stable.
Asia Capital Re’s ratings consider its business profile and balance sheet strength. Since it started writing business, Asia Capital Re has grown its franchise across the Asia Pacific region. Supported by relationships with key cedents, its gross premiums have grown from USD 342 million in 2008 to USD 923 million in 2014. A capital injection after the 2011-12 catastrophe year, helped restore the company’s risk-adjusted capitalization to a level that supports its ratings.
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