SINGAPORE, Oct 14 (Bernama-BUSINESS WIRE) — AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of C- (Weak) and the Long-Term Issuer Credit Rating of “cc” of Capital Life Insurance Company Limited (CLI) (Papua New Guinea).
The ratings reflect CLI’s balance sheet strength, which AM Best categorizes as weak, as well as its adequate operating performance, limited business profile and weak enterprise risk management. The ratings factor in a neutral impact from the company’s 100% ownership by Capital Insurance Group Limited.