HONG KONG, June 13 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed
the financial strength rating of A (Excellent) and the issuer credit
rating of “a” of Hyundai Marine & Fire Insurance Co., Ltd. (HMF)
(South Korea). The outlook for each rating remains stable.
The ratings reflect HMF’s strong risk-adjusted capitalization and business profile.
HMF’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remains supportive of the current rating despite a decline driven by an increase in underwriting risk in 2015. Nevertheless, shareholders’ equity increased year-on-year mainly driven by an increase in retained earnings. HMF continues to maintain a conservative investment strategy, with the majority of its investment portfolio allocated in fixed income securities. Going forward, HMF will further diversify its investment portfolio by continuously adding higher-yield investments such as foreign securities, loans and alternative investments, which A.M. Best expects to have little impact on the company’s risk-adjusted capitalization.
http://mrem.bernama.com/viewsm.php?idm=26977
The ratings reflect HMF’s strong risk-adjusted capitalization and business profile.
HMF’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remains supportive of the current rating despite a decline driven by an increase in underwriting risk in 2015. Nevertheless, shareholders’ equity increased year-on-year mainly driven by an increase in retained earnings. HMF continues to maintain a conservative investment strategy, with the majority of its investment portfolio allocated in fixed income securities. Going forward, HMF will further diversify its investment portfolio by continuously adding higher-yield investments such as foreign securities, loans and alternative investments, which A.M. Best expects to have little impact on the company’s risk-adjusted capitalization.
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