Thailand: Asian Re sees affirmed ratings and jump in operating profits
Source: Asia Insurance Review | Jun 2020
In its 2019 financial performance report, Bangkok-based Asian Reinsurance Corporation (Asian Re) posted a 135% increase in its operating profit to $1.86m and a 64% increase in its gross written premiums in 2019 compared to 2018.
Asian Re said that its business remains unaffected by the COVID-19 pandemic due to the portfolio written and a business continuity plan.
Recently, AM Best also affirmed the Financial Strength Rating of B+ (Good) and the long-term issuer credit rating of “bbb-“of Asian Re. The outlook of these credit ratings is stable and said to reflect the reinsurer’s balance sheet strength which AM best categorises as strong. A