Free Submission Public Relations &
Deutsch English


A.M. Best Affirms Ratings of ECICS Limited

Print article Print article
© Business Wire 2014
2014-02-12 21:32:03 -

A.M. Best has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of ECICS Limited (ECICS) (Singapore). The outlook for both ratings is stable.

The ratings reflect ECICS’ strong risk-adjusted capitalization, favorable operating results, and its underwriting expertise in bonds and guarantees and credit insurance business.

ECICS continues to maintain strong risk-adjusted capitalization, as demonstrated by its Best’s Capital Adequacy Ratio (BCAR) and local regulatory capital adequacy ratio. In the past five years, ECICS' overall operating performance has been outstanding, attributed to its favorable results in both underwriting and investment activities. With almost 40 years of operation in Singapore, ECICS has a proven track record of expertise in its core lines. The launch of two new products—contractors

all risks and work injury compensation—in the second half of 2013 enables the company to be more competitive in the construction bond market. In addition, the launch of cargo insurance in 2014 is also expected to complement the existing credit insurance product.

While the company’s move to become a full-fledged general insurer from the second half of 2013 diversifies its insurance risk, there is execution risk to this expansion. A.M. Best will closely monitor the company’s performance relative to its peers following its expansion initiatives into the new portfolios.

ECICS is well positioned at its current rating level. Downward rating actions could occur if its operating performance deteriorates significantly, resulting in a material decline in its risk-adjusted capitalization level.

The methodology used in determining these interactive ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at : .. .

Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.

This rating announcement has been issued by A.M. Best Asia-Pacific Limited, which is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit : .. .

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

" title="\"/>" target="_blank" rel="nofollow"> ..

A.M. BestYanwei YouAssociate Financial

Analyst+852-2827-3421 : orJeff
YeungAssociate Director+852-2827-3413 : orRachelle
MorrowSenior Manager, Public Relations+(1) 908

439 2200, ext. 5378 : orJim

PeavyAssistant Vice President, Public Relations+(1)

908 439 2200, ext. 5644 :

Hossam Abdel-Kader
Phone: +43 1 9582319

Disclaimer: (c) 2014 Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News


Terms & Conditions | Privacy | About us | Contact