A.M. Best Affirms Credit Ratings of New India Assurance Company Limited
The ratings reflect New India’s balance sheet strength, which
New India’s balance sheet strength reflects solid risk-adjusted capitalization that is supported by low underwriting leverage. Its capital and surplus is by far the largest among all non-life insurers in
Offsetting rating factors include the susceptibility of New India’s capital position to volatility in India’s stock market, since fair value reserves account for a large portion of its capital. In addition, the company’s operating ratio (pre-tax results before gains and losses from investments) was unfavorable in the two years prior to
Positive rating momentum could result from New India showing a consistent and improving trend in its underwriting and operating performance, while maintaining its very strong risk-adjusted capitalization.
Conversely, negative rating actions could occur if the company’s risk-adjusted capitalization declines to a level below A.M. Best’s expectation, or if its operating performance deteriorates significantly.
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.
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