AM Best Affirms Credit Ratings of Qianhai Reinsurance Co., Ltd.
The ratings reflect QHR’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
QHR’s very strong balance sheet strength is supported by its conservative underwriting leverage and retrocession program, as well as financial flexibility owing to support from its shareholders and risk-adjusted capitalization at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). Consistent with its business plan, QHR is on track to generate its first year of net profit in fiscal-year 2019, the company’s third year of operation. QHR expects to maintain profitable operations and exercise full profit retention over the medium term, while gradually growing its profit size and margin each year.
Founded in
While positive rating actions are unlikely to occur in the near term, negative rating actions could occur if QHR materially deviates from its business plan, if its liquidity or risk-adjusted capitalization diverges significantly from AM Best’s expectations or if there is a reduced level of commitment from the company’s three strategic shareholders.
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 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 credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in
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Source: AM Best
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