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.
Was this article valuable?
Here are more articles you may enjoy.
More Americans Are Moving Away From Flood Risk Than Toward It 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
AM Best Upgrades Credit Ratings of Missouri’s Columbia 
