AM Best upgrades Long-Term Issuer Credit Rating for Hanoi Re

AM Best has upgraded Hanoi Re’s Long-Term Issuer Credit Rating from “bbb” to “bbb+”, and revised the outlook from positive to stable.
The rating agency has also affirmed the company’s Financial Strength Rating of “B++” (Good), with a stable outlook.

This decision reflects the Vietnamese reinsurer’s strong balance sheet, solid operating performance, limited business profile, and appropriate risk management.

Hanoi Re is one of two local reinsurers operating in Vietnam. The company generates most of its business volume through its subsidiary, PVI Insurance Corporation.