AM Best Affirms Credit Ratings of AzRe Reinsurance, OJSC
LONDON–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of AzRe Reinsurance, OJSC (AzRe) (Azerbaijan). The outlook of these Credit Ratings (ratings) is positive.
The ratings reflect AzRe’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management (ERM).
The positive outlooks reflect the continued resilience of AzRe’s balance sheet strength amid a challenging operating environment, combined with improvements in the company’s ERM capabilities.
AzRe’s balance sheet strength is underpinned by its consolidated…