A.M. BEST AFFIRMS RATINGS OF FIRST CAPITAL INSURANCE LIMITED

SINGAPORE, Sept 21 (Bernama) -- A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of First Capital Insurance Limited (First Capital) (Singapore). The outlook for both ratings remains stable.

The ratings consider First Capital’s favorable baseline capitalization, strong operating performance and good business profile. Capital leverage measures have trended downward with consistent capital growth. Management has been effective in profitably diversifying First Capital’s sources of underwriting results, while growing premiums and results. This reflects the strength of the management’s business network and expertise in identifying underwriting opportunities across Asia and lines of business. Profitability ratios are significantly supported by favorable reinsurance commission income and First Capital’s large investment portfolio.

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