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The positive outlook for Inter Hannover reflects the positive outlook on the ratings of its parent company, Hannover Rueckversicherung AG (Hannover Re). Inter Hannover remains important to its parent as a source of primary insurance business. In addition, the company benefits from explicit parental support in the form of quota share reinsurance of both its single risk and agency business.
The ratings also reflect Inter Hannover’s stand-alone risk-adjusted capitalisation, which is expected to remain excellent, supported by premium retention of below 10%. In the past, Inter Hannover has had to strengthen the reserves associated with the run-off of a number of its poorly performing agency accounts. However, the conclusion in
A positive, albeit lower, pre tax profit is expected in 2011 (2010:
Inter Hannover’s business profile benefits from its links with Hannover Re, and integration between the business units of the two entities continues to increase. Inter Hannover writes large commercial single risks through its
The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilised include: “Risk Management and the Rating Process for Insurance Companies”; “Rating Members of Insurance Groups”; “Natural Catastrophe Stress Test Methodology”; “Understanding Universal BCAR”; and “Understanding BCAR for Property/Casualty Insurers”. Methodologies 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
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