HONG KONG, Sept 1 (Bernama) -- A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Royal Insurance Corporation of Bhutan Limited (RICB) (Bhutan). The outlook for both ratings is stable.
The
ratings reflect RICB’s adequate risk-adjusted capitalization,
consistently favorable operating performance and its dominating market
position in Bhutan.
RICB’s capital and surplus has registered healthy
growth in the five-year period from 2010 to 2014, driven by its
profitable underwriting and strong investment income. The company has
developed its reinsurance inward business from the domestic and foreign
markets for an alternative income source over recent years.
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