Marble Reinsurance Corporation Credit Ratings affirmed excellent - AM Best

KUALA LUMPUR, Oct 16 -- AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of ‘a-’ of Marble Reinsurance Corporation (Marble Re) Micronesia.

In a statement, AM Best said the outlook of these ratings was stable.

The ratings reflect Marble Re’s balance sheet strength, which AM Best described as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

Marble Re’s balance sheet strength is underpinned by risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, at the strongest level.

The company’s balance sheet strength also benefits from its low underwriting leverage and conservative investment portfolio.

Marble Re has a track record of favourable operating performance supported by a five-year average return-on-equity ratio of approximately 12 per cent, driven mainly by stable investment income and very strong underwriting results.

The company also has limited potential volatility arising from its underwriting portfolio by using a conservative reinsurance programme.

Marble Re is wholly-owned by the Marubeni Corporation, one of Japan’s largest trading companies. The company benefits from its parent’s broad business networks and trading activities and only insures and reinsures risks from affiliated and related companies within the Marubeni group.

More details on the ratings at www.ambest.com

-- BERNAMA