KUALA LUMPUR, July 15 (Bernama) -- The outlooks of Thaire Life Assurance Public Company Limited (Thaire Life), Thailand have been revised from stable to negative, according to global rating agency and information provider, AM Best.
The negative outlooks reflect AM Best’s view of an increasingly challenging operating environment in Thailand’s life and health market, as well as Thaire Life’s recent growth in the less profitable health class of business, placing pressure and increasing volatility on underwriting performance over the medium term.
AM Best has also affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ for Thaire Life.
These Credit Ratings reflect Thaire Life’s balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
Thaire Life’s balance sheet strength assessment is underpinned by risk-adjusted capitalisation that remains at the strongest level, as measured by Best’s Capital Adequacy Ratio.
AM Best views the company’s operating performance as strong, as evidenced by a five-year average return on equity ratio of 26 per cent (2014-2018). It has a track record of favourable earnings driven by the strong underwriting performance of its in-force life business.
For more information, contact www.ambest.com.
-- BERNAMA
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