Korean Reinsurance gets ratings affirmation

October 22 2015 by InsuranceAsia News Staff

Korean Reinsurance Company (KRE), has received a ratings affirmation from A.M. Best, reflecting the insurer’s adequate risk-adjusted capitalisation and stable operating performance.

AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a”, with stable outlook for both ratings, of KRE.

In a press release, AM Best said KRE is well positioned at its current rating level, although it expects downward pressure to develop if there was a material decrease in capitalisation.

The report said KRE’s regulatory capitalization has been above 200% over the past five years, with the company selectively lowering the retention for some personal lines to increase profitability.

KRE provides reinsurance services for various insurances, including life, fire, marine, automobile, guaranteed, specialty, foreign casualty, long-term, pension and others.

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