SINGAPORE, Feb 24 (Bernama-BUSINESS WIRE) — AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of PVI Insurance Corporation (PVI Insurance). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
The ratings reflect PVI Insurance’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also factor in rating enhancement from PVI’s ultimate parent, HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.).