AM Best affirms Nat Re’s ratings

AM Best has affirmed National Reinsurance Corporation of the Philippines (Nat Re)’s Financial Strength Rating of “B++” (Good) and Long-Term Issuer Credit Rating of “bbb” (Good), with a stable outlook.

The agency also affirmed Nat Re’s National Scale Rating of “aa+.PH” (Superior).

The ratings reflect the reinsurer’s strong balance sheet, adequate operating performance, neutral business profile, and appropriate business risk management.

Over the 2021–2025 period, Nat Re recorded an average five-year return on equity (ROE) of 6.8%.