A.M. Best Co. has placed the financial strength rating of “B++” (Good) and the issuer credit rating of “bbb+” of South Korea’s MERITZ Fire & Marine Insurance Company, Ltd. under review with positive implications. “The rating actions follow MERITZ’s recent announcement to its shareholders a rights offering worth KRW 204.4 billion (approximately $221 million.).” Best said it believes MERITZ’s risk-adjusted capitalization will increase substantially after the offer.
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of South Korea’s Samsung Fire & Marine Insurance Company Limited with a stable outlook. “The ratings reflect the company’s strong risk-adjusted capitalization, unrivaled market leadership, profit-oriented strategy and conservative investment portfolio,” said Best.