The ratings of the Group reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The Group benefits from strong risk-adjusted capitalization, favorable five-year operating performance, supported by actions to improve profitability and reduce risk, and sound business profile in
The ratings of MFBL reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate ERM. The life insurance group benefits from strong risk-adjusted capitalization, consistent profitability in the most recent five-year period and a relatively low-risk product offering. Offsetting these positive rating factors is the exposure to a closed book of high minimum guarantee universal life insurance products and potential, albeit gradual, spread compression.
The upgrade to the ratings of CELIC reflect its strategic integration into MFBL through its shared management and board of directors, as well as ongoing consolidation of its investment, finance and actuarial services. Additionally, there is an explicit unconditional and absolute guarantee of CELIC’s liabilities from the
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