SINGAPORE, June 27 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Union Medical Benefits Society Limited (UniMed) (New Zealand). The outlook for each rating is stable.
The ratings reflect UniMed’s very strong risk-adjusted capitalization, which results from the company’s low underwriting leverage, favorable liquidity and high quality of assets. In addition, UniMed has a good performance track record, with an average combined ratio of approximately 95% and a compounding annual growth rate in policyholders’ surplus of approximately 10% over a five-year period.
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