SINGAPORE, March 2 (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 The Education Benevolent Society Incorporated (EBS) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect EBS’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
EBS’s balance sheet strength is supported by risk-adjusted capitalization that is maintained at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company has relatively low underwriting leverage and favorable balance sheet liquidity. However, its regulatory solvency margin is modest compared with other New Zealand health insurers.
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