Medexpress Insurance's 'AA' Reliability Rating Affirmed
The rating is supported by Medexpress's affiliation with a multiline insurance group, strong position in the voluntary medical insurance (VMI) market, strong solvency position (with actual solvency margin 5x the regulatory minimum) and healthy liquidity metrics and its below-market average loss ratio.
The rating is constrained by Medexpress's poorly balanced insurance portfolio, with VMI policies accounting for 86.2% of the total premium income and the high loss ratio in the Motor Hull insurance line.
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