Free Submission Public Relations &
Deutsch English


A.M. Best Upgrades Ratings of Samsung Vina Insurance Limited

Print article Print article
© Business Wire 2014
2014-02-20 20:02:01 -

A.M. Best has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and issuer credit rating to “a-” from “bbb+” of Samsung Vina Insurance Limited (SVI) (Vietnam). The outlook for both ratings is stable.

The ratings reflect the enhanced commitment that SVI now receives as a subsidiary of Samsung Fire & Marine Insurance Co., Ltd (SFM) (South Korea). In January 2014, SFM acquired an additional 25% of SVI’s shares from its other shareholder, Vietnam National Reinsurance Corporation (Vina Re) (Vietnam). Following the acquisition, SFM holds 75% of SVI, with Vina Re owning the remaining 25%. SFM provides a full range of operational support for SVI, which has operating standards comparable to those followed by SFM.

While there is no positive

movement in the ratings considered in the short term, negative rating actions could occur if there is a material deterioration in SVI’s risk-adjusted capitalization, driven by worse than expected profitability.

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. BestSeewon Oh, +852-2827-3404Senior
Financial Analyst : orMoungmo

Lee, +852-2827-3402General Manager : orRachelle
Morrow, +(1) 908-439-2200, ext. 5378Senior Manager, Public
Relations : orJim

Peavy, +(1) 908-439-2200, ext. 5644Assistant Vice
President, Public Relations :

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