A.M. Best Affirms Credit Ratings of Nova Casiopea Re S.A.
The ratings reflect NCRe’s balance sheet strength, which
NCRe is a pure captive reinsurer of Telefonica S.A. (Telefonica), a Spanish multinational broadband and telecommunications provider with operations in
NCRe’s operations are managed by the same personnel that have managed CRe’s activities for more than 10 years. In A.M. Best’s opinion, the proven track record of NCRe’s management team has substantially reduced execution risk associated with the new captive. NCRe has implemented a risk management framework commensurate to its risk profile and is integrated closely with risk management activities of Telefonica.
NCRe’s balance sheet strength is driven by the strongest level of risk-adjusted capitalisation, supported by an excellent level of liquidity managed through conservative investment guidelines. A partially offsetting rating factor to the balance sheet strength is the level of natural catastrophe risk the company is exposed to, which is likely to cause volatility. However, volatility is mitigated partly by a highly rated retrocession panel.
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 © 2017 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171221005727/en/
Associate Financial Analyst
[email protected]
or
Associate Director, Analytics
[email protected]
or
Manager, Public Relations
[email protected]
or
Director, Public Relations
[email protected]
Source:
Renewing an Auto Insurance Policy Before Christmas
A.M. Best Affirms Credit Ratings of Global Indemnity Limited and Its Subsidiaries
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News