1/2/2023 0 Comments United india insurance compny![]() ![]() AM Best expects the company’s balance sheet strength fundamentals to weaken considerably at fiscal year-end 2020, as continuously weak operating results and mark-to-market losses from the company’s common equities investments are expected to drive a significant decline in shareholder equity. The rating downgrades reflect a downward revision in AM Best’s balance sheet strength assessment for United India to weak from adequate, driven by a decline in risk-adjusted capitalisation as of December 2019 and the expectation of a further material deterioration at fiscal-year end 2020. The ratings reflect the company’s balance sheet strength, which AM Best categorises as weak, marginal operating performance, neutral business profile and marginal enterprise risk management. Concurrently, these Credit Ratings (ratings) have been withdrawn at the company’s request to no longer participate in AM Best’s interactive rating process. ![]() The outlook of the FSR has been revised to negative from stable while the outlook of the Long-Term ICR is negative. SINGAPORE-( BUSINESS WIRE)- AM Best has downgraded the Financial Strength Rating (FSR) to C+ (Marginal) from C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b-” from “b+” for United India Insurance Company Limited (United India). ![]()
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