JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Insurer Financial Strength Rating of Century Insurance Company Limited (CICL) at 'A' (Single A) with a 'Stable outlook,'says a press release here on Saturday. According to details, the release stated over the last two years, CICL has expanded into a non-group business. Although the company's loss ratios and cushion available to policyholders were adversely affected during 2003, trends have now reversed, and capitalisation and liquidity ratios have improved notably over the previous year.
JCR-VIS believes that flit overall risk profile of the company will remain consistent with the assigned ratings. Re-insurers remain strong and treaty terms continue to be favourable, further improving over the last year.
However, CICL' s ability to further diversify exposures by generating non-group business will continue to have a hearing on its ratings. This rating also incorporates the effect of strong group backing.-PR
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