SINGAPORE, October 26, 2023–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Starr International Insurance (Thailand) Public Company Limited (SIIT) (Thailand). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect SIIT’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). In addition, SIIT benefits from rating enhancement arising from the implicit and explicit support provided by Starr International Company, Inc. (Starr Group).
SIIT’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which is expected to remain at the strongest level over…
