A.M. Best Affirms Credit Ratings of Lumico Life Insurance Company
The ratings primarily reflect A.M. Best’s expectation that the Swiss Re group will provide explicit support to Lumico Life as needed. Lumico Life was acquired through Swiss Re’s new iptiQ
The ratings also reflect Lumico Life’s balance sheet strength, which
Lumico Life’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio, is assessed as strongest as of year-end 2016, benefiting from its low net underwriting leverage and relatively conservative short-term investment allocation portfolio. The company’s balance sheet strength also benefits from very strong internal reinsurance support provided by the Swiss Re group, with no additional projected capital injections from Swiss Re Ltd needed in the near term as a result of already improved performance within the company’s operations. Lumico Life primarily underwrites lower reserve biometric products, with a focus on life and health retail policies mainly through distribution partnerships. Being fairly new in the market area as a direct writer, the company has a limited market position and a concentrated portfolio in terms of products and distribution partners.
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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Source:
A.M. Best Affirms Credit Ratings of PASHA Insurance OJSC
A.M. Best Affirms Credit Ratings of iptiQ Life S.A.
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