NEW YORK: For a fourth straight year, the U.S. insurance industry reduced its hedge fund investments, by $2.6 billion in 2019 to $11.9 billion, with the property/casualty segment reporting a year-over-year reduction of 22%, the largest among the major industry segments, according to a new AM Best special report. The Best’s Special Report, titled “Insurers…
Category: Ratings
Corporate Ratings, Insurance Ratings, S&P, Moody’s, Fitch
Directa Plus wins Technology Innovation Award from Frost & Sullivan
LONDON: Directa Plus Plc has received a Technology Innovation Award 2020 from global consultants Frost & Sullivan for its graphene based Grafysorber technology for treating waters and sludges contaminated by hydrocarbons. Directa Plus is a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets. In the report, ‘Graphene…
Rostelecom leads the market, says TMT Consulting rating
MOSCOW: Rostelecom PJSC, the largest integrated digital service provider in Russia, announced that according to ratings provided by TMT Consulting, Rostelecom leads the market for the 8-800 Free Call service. According to TMT Consulting, market volume for Free Calls (8-800) in Russia grew by 4% in 2019 compared to 2018 and amounted to 8.5 billion…
RAM Ratings maintain ratings for FHT sponsored medium-term notes
SINGAPORE: RAM Rating Services Berhad has maintained ratings for the Frasers Hospitality Trust’s sponsored RM 477.48 million medium term Notes Series 2019-A issued by Notable Vision Sdn. Bhd. under NVSB’s RM750 million Medium Term Note Programme. The Notes Series 2019-A were issued in connection with the securitisation of The Westin Kuala Lumpur, one of the…
Outlook on Panama’s insurance industry revised to negative amid COVID-19
MEXICO CITY: U.S. based insurance sector rating agency AM Best has revised its market segment outlook on Panama’s insurance industry to negative from stable, citing the significant challenges the country and industry are facing amid the COVID-19 pandemic. In a Best’s Market Segment Report, AM Best states that the following are the reasons for the…
AM Best affirms credit ratings of Dubai Insurance Company
DUBAI: Insurance sector rating agency, AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Dubai Insurance Company (PSC) (DIC). The outlook of these Credit Ratings is stable. The ratings reflect DIC’s balance sheet strength, which AM Best categorises as very strong, as well as…
Rostelecom leads in J’son & Partners Consulting 2019 rating
MOSCOW: Rostelecom, Russia’s national telecommunications operator, has been ranked at the top of the independent J’son & Partners Consulting 2019 rating. According to the research, the major driver for subscriptions was the comprehensive office solution which includes Internet access, telephony, video surveillance and TV. The pay-TV subscriber base in the b2b segment has seen a…
S&P lowered long term credit ratings of South Africa
LONDON: S&P Global Ratings lowered its long-term foreign-currency sovereign credit rating on the Republic of South Africa to ‘BB-‘ from ‘BB’ and affirmed the ‘B’ short-term foreign-currency sovereign rating, with a stable outlook. At the same time, the long-term local currency sovereign credit rating for South Africa was lowered to ‘BB’ from ‘BB+’ and the…
Protector Forsikring’s rating revised from stable to negative outlook
OSLO: AM Best has revised the outlook for Protector Forsikring’s Long-Term Issuer Credit Rating (Long Term ICR) of BBB+ from stable to negative. The negative outlook on the Long-Term ICR reflects according to AM Best the deteriorating trend in risk-adjusted capitalisation seen over recent years and the potential for further decline in 2020 due to…
AM Best Affirms Credit Ratings of Kelvin Re Limited
LONDON: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-“ of Kelvin Re Limited (Guernsey). The outlook of these Credit Ratings remains stable. The ratings reflect Kelvin Re’s balance sheet strength, which AM Best categorises as strongest, as well as its adequate operating performance, limited…
AM Best affirms credit ratings of Humboldt Re Limited
LONDON: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Humboldt Re Limited (Guernsey). The outlook of these ratings remains stable. The ratings reflect Humboldt Re’s balance sheet strength, which AM Best categorises as strongest, as well as its adequate operating performance, limited business…
Fitch affirms Sabra’s credit rating and outlook
IRVINE: Sabra Health Care REIT announced that Fitch Ratings has affirmed the ratings for Sabra and its subsidiaries at ‘BBB-‘; Fitch’s Rating Outlook of Negative also remains unchanged. The report notes Sabra’s portfolio quality and diversification, strong liquidity and no near-term maturities as key drivers for its ratings decisions. Fitch also views Sabra’s recent decision…