AM Best assigns ratings to QBE Del Istmo, subsidiaries
Bnamericas Published: Saturday, January 07, 2012
AM Best has assigned financial strength ratings of A- and issuer credit ratings of a- to Panama-based reinsurance company QBE Del Istmo as well as subsidiaries Del Istmo Assurance and Liffey Re, the ratings agency said in a release. The ratings - which all have a stable outlook - reflect the solid capitalization, profitability and disciplined underwriting of the insurance firm, the release said. However, the rapid expansion of risks associated with the writing of catastrophe business and potential regulatory changes could negatively impact the group, the agency said. Positive ratings action could occur if the group maintains strong operating results and capitalization levels, whereas negative action may result from a deterioration of those factors, AM Best said.
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