A.M. Best Affirms Credit Ratings of Adamjee Insurance Company Limited
The ratings reflect Adamjee’s balance sheet strength, which
Adamjee’s strong balance sheet strength is underpinned by very strong risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR).
The company has a solid, albeit volatile, performance record. Overall earnings are primarily driven by investment returns, with underwriting results typically accounting for a small portion of pre-tax profits. The company’s material exposure to domestic equities increases the potential for performance volatility. During 2016 and the first six months of 2017, Adamjee reported pre-tax profits of
Although Adamjee maintains a strong competitive position in
Adamjee’s risk management capabilities are considered as appropriately aligned with its risk profile. In particular, well-defined guidelines and controls have allowed the company to navigate successfully a challenging operating environment. Nevertheless, the prospects of the business remain closely linked to prevailing economic and political conditions in
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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