Rating for Thai Re revised
Standard and Poor's Ratings Services has revised its outlook on its BBB+ local currency long-term counterparty credit and insurer financial-strength ratings on Thai Reinsurance Public (Thai Re) to "positive" from "stable". At the same time, the ratings were affirmed.
"The outlook revision reflects our expectation that the company will improve its domestic market position through new business development and at the same time maintain a satisfactory financial profile," said Standard and Poor's credit analyst Paul Clarkson. The ratings reflect Thai Re's consistently strong underwriting performance and capital position. In addition, the company's market share remains solid amid a competitive operating environment. These strengths are partly offset by Thai Re's moderate financial flexibility, the company's higher exposure to equity investments than the wider peer group average and the fact that Thailand has a less diverse and sophisticated investment market compared with those of its peers within the Southeast Asian region.
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