SINGAPORE, March 29 (Bernama-BUSINESS WIRE) — AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) – formerly known as PVI Reinsurance Joint Stock Corporation (PVI Re) (Vietnam). The outlook of the FSR is stable. Additionally, AM Best has assigned a Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to Hanoi Re with a stable outlook.
The Credit Ratings (ratings) reflect Hanoi Re’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also factor in rating enhancement from Hanoi Re’s ultimate parent, HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.).
