A.M. Best Affirms Ratings of Compagnie Centrale de Réassurance
Business Wire, Inc. |
The ratings reflect CCR’s strong local business profile, good risk-adjusted capitalisation and solid underwriting performance. Offsetting rating factors include a high degree of geographic concentration in terms of business origination and investments and an enterprise risk management (ERM) programme that, despite progress achieved in 2011, is in the early stage of development.
In A.M. Best’s opinion, CCR has a strong domestic business position as Algeria’s national reinsurer.
As a result of this development, together with a successful growth of business originated abroad, CCR’s gross written premiums have increased by about 38% in 2011 to
CCR’s technical result remained solid in 2011 and improved to
CCR’s risk-adjusted capitalisation benefited from its 2011 solid results and remained good despite the significant increase in its net premiums written. Going forward,
The ratings also factor in the country risk of
Upward rating movement could occur if
Downward rating pressure could occur if CCR’s plan to increase its international business were to impact its technical fundamentals or if the country risk of
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilised include “Understanding BCAR for Property/Casualty Insurers”; “Evaluating Country Risk”; and “Risk Management and the Rating Process for Insurance Companies”. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best
A.M. Best
Copyright © 2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.
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