A.M. Best Affirms Credit Ratings of AIG Europe Limited
The ratings reflect AEL’s balance sheet strength, which
AEL’s balance sheet strength is underpinned by its risk-adjusted capitalisation being at the very strong level as at year-end 2017, as measured by Best’s Capital Adequacy Ratio (BCAR), despite a deterioration in retained earnings driven by a significant underwriting loss for the year. In 2017, the company improved its quality of capital through a capital injection of
The adequate assessment of operating performance reflects AEL’s long-term track record of profitability, with a five-year (2013-2017) average return on equity of 2%, although performance has weakened in recent years. In 2017, AEL reported a pre-tax operating loss of
AEL remains the second largest property and casualty insurer in the
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
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Aneela Mather-Khan, CA, +44 20 7397 0319
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