AM Best Affirms Credit Ratings of National General Insurance Company (P.S.C.)
The ratings reflect NGI’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
NGI’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The assessment also factors in the company’s good level of liquidity and absence of financial leverage. Offsetting rating factors include NGI’s high dependence on reinsurance and the concentration of its invested assets in the
The company’s strong operating performance, evidenced by a five-year (2014-2018) weighted average return on equity of 8%, has been driven by robust and improving underwriting results from its non-life portfolio. NGI has demonstrated good underwriting performance across all key non-life lines of business, with a five-year average combined ratio of 91%, excluding unallocated expenses. Operating performance is supported further by stable investment income, with a five-year average investment return (excluding gains) of 3%, in part assisted by the de-risking of the investment portfolio in recent years away from volatile equity investments.
NGI’s profile is limited, due in part to its concentration to the highly competitive
This press release relates to Credit Ratings that have been published on AM 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 AM 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 AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190404005439/en/
+44 20 7397 0308
[email protected]
+44 20 7397 0325
[email protected]
+1 908 439 2200, ext. 5159
[email protected]
+1 908 439 2200, ext. 5644
[email protected]
Source: AM Best
Rep. Bera Introduces Bill to Enroll Individuals in Health Insurance Coverage
Only a Quarter of Americans Are Very Confident About Retirement, Reveals New Consumer Retirement Index from Lincoln Financial Group and CivicScience
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News