SINGAPORE, March 2 (Bernama-BUSINESS WIRE) — AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) of ICICI Lombard General Insurance Company Limited (ICICI Lombard) (India). Concurrently, AM Best has affirmed the India National Scale Rating (NSR) of aaa.IN (Exceptional) of ICICI Lombard with a stable outlook.
The Credit Ratings (ratings) reflect ICICI Lombard’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in the neutral impact from ICICI Bank Limited (ICICI Bank), one of the largest private sector banks in India.