Article ID: 6061ed1f9b590bb8cdd3d1bb9c22ea081f587a9a1f5e00ab9c5340446703fb73
Source ID: primary:reinsurancene.ws
Published At: -
Extraction Method: trafilatura
URL: https://www.reinsurancene.ws/am-best-upgrades-ms-reinsurances-issuer-credit-rating/
Body Text
AM Best has upgraded MS Amlin AG’s (MS Reinsurance) (Switzerland) Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior) and affirmed its Financial Strength Rating (FSR) of A+ (Superior). The company is a subsidiary of Mitsui Sumitomo Insurance Company, Limited (MSI). MS Reinsurance has expanded in recent years and now represents a significant share of MS&AD Insurance Group Holdings and MSI’s international premiums and profits. With operating hubs in Zurich, Bermuda, and the US, the company serves as a key reinsurance platform within MS&AD’s strategy to increase its exposure to international markets and diversify its premium and earnings base geographically. The outlook for the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR is stable. AM Best said the ratings reflect MSI’s consolidated balance sheet strength, which it assesses as strongest, alongside its strong operating performance, favourable business profile, and appropriate enterprise risk management. The Long-Term ICR upgrade reflects the assignment of full rating enhancement to MS Reinsurance due to its increased strategic and financial importance to parent company MSI. According to AM Best, MSI’s ratings are being extended to MS Reinsurance given the implicit and explicit support provided, including a full unconditional parental guarantee.
Metadata (JSON)
{
"score": 3.4
}