SINGAPORE, Aug 30 (Bernama-BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating ofA- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Asia Capital Reinsurance Group Pte. Ltd. (Asia Capital Re) (Singapore) and its subsidiary, Asia Capital Reinsurance Malaysia Sdn Bhd (ACRM) (Malaysia). AM Best also has affirmed the Long-Term ICR of “bbb-” of the holding company, ACR Capital Holdings Pte. Ltd. (ACR Holdings) (Singapore). The outlook of these Credit Ratings (ratings) is negative.
The ratings of Asia Capital Re reflect its 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).