A.M. BEST AFFIRMS CREDIT RATINGS OF EQ INSURANCE COMPANY LIMITED

SINGAPORE, Aug 24 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of EQ Insurance Company Limited (EQ) (Singapore). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect EQ’s adequate risk-adjusted capitalization, which has benefited from capital injections by its parent company, Citystate Capital Asia Pte. Ltd. EQ’s capital position grew by a cumulative average of approximately 7% in the five years ending Dec. 31, 2016. Its risk-adjusted capitalization is supported by low underwriting leverage and prudent investments that are held predominantly in cash and bonds.

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