A.M. Best Affirms Ratings of NEWGT Reinsurance Company, Limited
Proquest LLC |
The outlook for both ratings is stable.
The ratings reflect NEWGT's adequate risk-adjusted capitalization, stable operating profitability, aided by its retrocession coverage, and the support from its parent company,
NEWGT reported favorable operating performance over the past five years, mainly driven by its major line of marine cargo business, which is diversified globally due to the broad range of trading activities conducted by
Partially offsetting these positive rating factors is NEWGT's expansion into third party business, which brings more potential volatility to the operating result. This expansion includes the Lloyd's Market, which accounts for a significant proportion of its total net premium income in the forecast periods.
While there is no positive movement in the ratings considered in the short term, negative rating actions could occur if there is a sharp decline in NEWGT's risk-adjusted capitalization caused by a deterioration in its operating performance. In addition, deterioration in
More information:
((Comments on this story may be sent to [email protected]))
Copyright: | (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |
Wordcount: | 278 |
Health Dialog Names Jeffrey Kraines as VP, Medical Director
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News