SINGAPORE, July 28 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Provident Insurance Corporation Limited (PICL) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect PICL’s adequate risk-adjusted capitalization, prudent reserving and conservative investment portfolio. Moreover, despite the company’s start-up nature, its operating performance and claims experience during its first four years of operations have been largely consistent with initial projections.
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