THE National Reinsurance Corp. of the Philippines (Nat Re), the country’s sole professional reinsurer, was assigned a financial strength rating of PRS A, with a Stable Outlook, by the Philippine Rating Services Corp. (PhilRatings).
An insurer-rated PRS A has strong financial security characteristics but is somewhat more likely to be affected by adverse business conditions compared to higher-rated insurance companies.
A Stable Outlook indicates that the rating is likely to be maintained or to remain unchanged in the next 12 months.
The assigned financial strength rating and Outlook took into account Nat Re’s solid market franchise, shareholders of good standing, experienced management, sound investment portfolio, and more than ample capitalization.