A.M. Best Affirms Credit Ratings of INPEX Insurance, Ltd.
The ratings reflect IIL’s balance sheet strength, which
IIL’s very strong balance sheet assessment mainly reflects its low underwriting leverage and conservative investment portfolio. Given the volume of risks that the company currently writes and retains, the capital required to support its current book of business is relatively modest.
IIL’s underwriting results over the most-recent five-year period have been consistently positive, contributing to an average combined ratio of under 40%. Despite very strong underwriting margins, loss and combined ratios have been volatile, owing primarily to a relatively small in-force portfolio.
IIL is a single-parent captive of INPEX CORPORATION (INPEX), which is the largest oil and gas exploration and production company in
The stable outlook reflects A.M. Best’s expectation that IIL will continue to deliver consistently positive operating results, supported by a return to growth with strong underwriting margins and stable investment yields.
Positive rating actions could occur if IIL continues to maintain its very strong balance sheet strength, along with more stable underwriting and operating results. Negative rating actions could occur if there is a substantial increase in losses caused by a material shift in risk appetite or significant erosion of capital. In addition, significant deterioration in INPEX’s credit profile could put downward pressure on IIL’s ratings.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180831005254/en/
Associate Director, Analytics
[email protected]
or
Director, Analytics
[email protected]
or
Manager, Public Relations
[email protected]
or
Director, Public Relations
[email protected]
Source:
Why Drivers Should Get Car Insurance Quotes This Autumn
Big I New York Has ‘Concerns’ With State’s Best Interest Reg
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News