A.M. Best Affirms Credit Ratings of The Hollard Insurance Company Pty Ltd
The ratings reflect HIC’s balance sheet strength, which
HIC’s level of balance sheet strength is reflective mainly of its equity investments and moderate underwriting leverage. In addition,
As a niche insurer, HIC has a market share of less than 2% in
A.M. Best’s assessment that HIC’s ERM is appropriate is based on the company’s current size and risk profile. Despite a complex business model, HIC has demonstrated an overall good ability to address most of its risks, primarily through underwriting, risk selection, reinsurance and sound operating controls. Therefore,
Key factors that could lead to negative rating actions include inadequate product pricing that results in material deviations from the expected improvement in operating performance or risk-adjusted capitalization. Additionally, downward ratings pressure may arise if there is diminished capital support from HIC’s parent entities.
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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