SINGAPORE, Aug 29 (Bernama-BUSINESS WIRE) — AM Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” from “bbb+” of Oriental Insurance Company Limited (Oriental) (India). The outlook of the FSR has been revised to negative from stable, while the outlook of the Long-Term ICR remains negative.
The Credit Ratings (ratings) reflect Oriental’s balance sheet strength, which AM Best categorizes as very strong, marginal operating performance, neutral business profile and marginal enterprise risk management (ERM).