SINGAPORE, May 30 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the financial strength rating of B (Good) and the issuer credit rating of "bbb" of Product Care (NZ) Limited (PCL) (New Zealand). The outlook for each rating is stable.
The ratings of PCL mainly reflect the company's consistently strong operating performance. Although PCL's risk-adjusted capitalization has declined in recent years as a result of the strain of taking on new business, it has remained adequate and supportive of the current rating level, underpinned by robust earnings derived from its strong technical earnings and consistent investment returns. PCL’s operating performance is strong as demonstrated by a return on equity of approximately 15%.
The ratings of PCL mainly reflect the company's consistently strong operating performance. Although PCL's risk-adjusted capitalization has declined in recent years as a result of the strain of taking on new business, it has remained adequate and supportive of the current rating level, underpinned by robust earnings derived from its strong technical earnings and consistent investment returns. PCL’s operating performance is strong as demonstrated by a return on equity of approximately 15%.
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