AM Best confirms Asian Re's rating

AM Best has confirmed Asian Reinsurance Corporation's (Asian Re) "B+" (Good) financial strength and "bbb-" long-term credit ratings. The outlook remains positive.

This decision is based on the Thai reinsurer's strong balance sheet, operating performance, business profile and appropriate enterprise risk management.

Over the period 2019-2023, the average combined ratio and average return on equity (ROE) stood at 110.3% and 1.5% respectively.

The positive outlook reflects the expected improvement in the company's underwriting metrics and operating performance following the success of its medium-term business plan.