AM Best Comments on Credit Ratings of Consumer Insurance Services Limited
AM Best has commented that the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of
CISL communicated to its insurance policyholders in recent weeks, informing them of the company’s decision to cancel all remaining card repayment insurance policies from
CISL is expected to collect its last premium payments from policyholders in
CISL’s rating fundamentals are currently not expected to be impacted by the aforementioned policy cancellations and the resulting accelerated run-off of its insurance operations. AM Best will continue to monitor the execution of the company’s run-off and consider any impact on the rating fundamentals going forward.
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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in
Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Yi Ding
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Source: AM Best
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