Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

AM Best Places Credit Ratings of EFU General Insurance Limited Under Review with Negative Implications.

Document Cited in Related
Vincent

ENPNewswire-November 23, 2021--AM Best Places Credit Ratings of EFU General Insurance Limited Under Review with Negative Implications

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 22112021 - AM Best has placed under review with negative implications the Financial Strength Rating of B+ (Good) and Long-Term Issuer Credit Rating of 'bbb-' (Good) of EFU General Insurance Limited (EFUG) (Pakistan).

These Credit Rating (rating) actions reflect AM Best's concern regarding EFUG's risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), due to uncertainties regarding the company's estimates of its net retained probable maximum losses (PML) relating to modelled natural catastrophe exposures, and the appropriateness of the company's reinsurance protection against such events.

EFUG's management team has initiated a detailed review of the company's catastrophe exposures, its modelled PML estimates and its reinsurance needs. The ratings are expected to remain under review pending completion of this review, and until AM Best can fully assess the impact of any resulting changes on the company's risk-adjusted capitalisation and balance sheet strength assessment.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT