31.10.2015, 00:18
General Insurance Corporation of India's Rating Affirmed
OREANDA-NEWS. National Rating Agency has affirmed its 'AAA' national scale reliability rating and 'iA-' global scale credit rating on General Insurance Corporation of India. The ratings were originally assigned in 2014.
The rating is underpinned by the status of a state-owned company, years of experience, high reinsurance capacity, existence of a branch network, experience in dealing with large losses. The company has high solvency and liquidity. The solvency margin is 3.04 which is much greater than standard of 1.5 as per IRDAI, the Indian Insurance Regulator.
The rating is constrained by the increased risk of catastrophic losses, negative underwriting results, as well as high volatility on the Indian stock market, investments in which make up half of the portfolio.
The rating is underpinned by the status of a state-owned company, years of experience, high reinsurance capacity, existence of a branch network, experience in dealing with large losses. The company has high solvency and liquidity. The solvency margin is 3.04 which is much greater than standard of 1.5 as per IRDAI, the Indian Insurance Regulator.
The rating is constrained by the increased risk of catastrophic losses, negative underwriting results, as well as high volatility on the Indian stock market, investments in which make up half of the portfolio.
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