SINGAPORE, May 26 (Bernama-BUSINESS WIRE) -- A.M. Best has revised
the outlooks to positive from stable and affirmed the financial strength
rating of B (Fair) and the issuer credit rating of "bb " of Health
Services Welfare Society Limited (New Zealand), trading as Accuro Health
Insurance (Accuro).
The outlook revisions to positive reflect Accuro’s adequate risk-adjusted capitalization and favorable trend in underwriting performance over the past five years. The underwriting gains were achieved through continued pricing adjustments, a reduction in its operating expense ratio and the favorable experience of its current product offerings. As a result, the company was able to report positive earnings in fiscal years 2014 and 2015, in contrast to the operating losses reported in earlier part of that five-year period. The ratings also reflect Accuro’s conservative investment portfolio and good business profile in New Zealand’s retail medical insurance sector.
http://mrem.bernama.com/viewsm.php?idm=26879
The outlook revisions to positive reflect Accuro’s adequate risk-adjusted capitalization and favorable trend in underwriting performance over the past five years. The underwriting gains were achieved through continued pricing adjustments, a reduction in its operating expense ratio and the favorable experience of its current product offerings. As a result, the company was able to report positive earnings in fiscal years 2014 and 2015, in contrast to the operating losses reported in earlier part of that five-year period. The ratings also reflect Accuro’s conservative investment portfolio and good business profile in New Zealand’s retail medical insurance sector.
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