Republic Insurance’s ratings reflect the company’s established niche in the reinsurance of credit insurance and the strength of its parent, Republic Financial Holdings Limited (Republic Financial) [
These strengths are partially offset by Republic Insurance’s limited business profile, as the majority of its net assumed premiums and earnings are generated from the reinsurance of credit insurance. However, the company is looking to expand its business profile with the reinsurance of mortgage term insurance beginning in 2017. An additional offsetting factor is the dependence of earnings and premiums originating in
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