KUALA LUMPUR, Feb 25 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of Guild Insurance Limited (GIL) Australia.
The stable outlook of the ratings reflects GIL’s balance sheet strength, which AM Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
According to a statement, GIL’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which AM Best expects to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio.
AM Best views GIL’s operating performance as adequate, as evidenced by a five-year average return on equity ratio of six per cent (fiscal years 2014 to 2018).
Historically, GIL’s combined ratio has been maintained at approximately 100 per cent, reflecting a favourable loss ratio, albeit offset by an elevated expense ratio when compared with the industry average.
The company is a leading provider of insurance protection to allied health professional associations. Its presence in this segment is supported by its direct access to members of its parent company, The Pharmacy Guild of Australia.
AM Best is a global rating agency and information provider with unique focus on the insurance industry. For more information, contact www.ambest.com.
-- BERNAMA
-- BERNAMA
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