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FOR IMMEDIATE RELEASE
SINGAPORE - JUNE 01, 2017 12:20 PM (EDT)
A.M. Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of ACR ReTakaful Berhad (ACRR Berhad) (Malaysia), the wholly owned subsidiary of ACR ReTakaful Holdings Limited, which is ultimately owned by Asia Capital Reinsurance Group Pte. Ltd. The outlook of the FSR remains stable, while the outlook of the Long-Term ICR remains negative. Concurrently, A.M. Best has withdrawn these Credit Ratings (ratings), as the company has requested to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect ACRR Berhad’s strong risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and its good liquidity ratios. The negative outlook of the Long-Term ICR reflects the company’s lack of a commercially viable business profile.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
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