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A.M. BEST AFFIRMS RATING OF DAO HENG INSURANCE COMPANY LTD.
(Full text of a statement. Contact details below.)
(BW)(NJ-A.M.-BEST) A.M. Best Affirms Rating of Dao Heng Insurance Company Limited
Business Editors
OLDWICK, New Jersey (BUSINESS WIRE) - Dec 28, 2007 - A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating (ICR) of "a-" of Dao Heng Insurance Company Limited (DHI). The outlook for both ratings is stable.
The ratings reflect DHI's consistently profitable underwriting results, strong risk-adjusted capitalization and management's efforts to expand the company's revenue sources.
DHI's level of capitalization on an absolute and risk-adjusted basis, as measured by Best's Capital Adequacy Ratio (BCAR), remained strong to support the risks underwritten. Its net premium leverage ratio further improved to 0.31 times in fiscal year 2007 from 0.42 times in fiscal year 2006.
Prospectively, A.M. Best expects that the company's risk-adjusted capitalization to remain strong over the next two years, albeit somewhat weaker than in fiscal year 2007, due mainly to anticipated premium growth.
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