SINGAPORE, Aug 13 (Bernama-BUSINESS WIRE) — AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” from “bbb-” of PVI Reinsurance Joint-stock Corporation (PVI Re) (Vietnam). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect PVI Re’s balance sheet strength, which AM Best categorizes as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM). In addition, PVI Re benefits from rating enhancement from HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G. or the HDI group).