Asian Re working at expanding underwriting scale

Asian Reinsurance Corporation (Asian Re) has continued to implement a number of strategic initiatives and business partnerships aimed at expanding its underwriting portfolio and market presence, says AM Best.

However, regulatory requirements have made it harder for the company to access and operate in certain regional markets, and persisting competitive market conditions remain key challenges at present.

AM Best views the company’s medium-term business plan, which is aimed at growing its scale and turning around its technical results, as presenting a high level of execution risk given persisting competitive market conditions.

Ratings

The global credit rating agency has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Asian Re. The outlook of these credit ratings is stable.

The ratings reflect Asian…