A.M. Best Affirms Ratings of Royal Insurance Corporation of Bhutan Limited
The ratings reflect RICB’s adequate risk-adjusted capitalization, consistently favorable operating performance and its dominating market position in
RICB’s capital and surplus has registered healthy growth in the five-year period from 2010 to 2014, driven by its profitable underwriting and strong investment income. The company has developed its reinsurance inward business from the domestic and foreign markets for an alternative income source over recent years.
RICB is one of two insurance companies in
Partially offsetting these positive rating factors are RICB’s high debt leverage and Bhutan’s economic environment.
RICB’s debt-to-capital ratio was relatively high, and
Bhutan’s economic growth continued to be moderate in 2014. The limited market and relatively small financial sector has posted challenges to the growth of RICB.
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to rating(s) that have been published on
Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
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