SINGAPORE, Aug 13 (Bernama-BUSINESS WIRE) — AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating of B++ (Good) of PVI Insurance Corporation (PVI Insurance) (Vietnam). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect PVI Insurance’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). In addition, PVI Insurance benefits from rating enhancement from HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G. or the HDI group).