OLDWICK, N.J., November 18, 2021–(BUSINESS WIRE)–AM Greatest has affirmed the Monetary Power Score of A- (Wonderful) and the Lengthy-Time period Issuer Credit score Score of “a-” (Wonderful) of AES International Insurance coverage Firm (AGIC) (Burlington, VT). The outlook of those Credit score Scores (scores) is secure.
The scores mirror AGIC’s steadiness sheet energy, which AM Greatest assesses as very sturdy, in addition to its sturdy working efficiency, impartial enterprise profile and acceptable enterprise danger administration. The scores additionally mirror the improved credit score profile of AGIC’s mum or dad, The AES Company (AES) [NYSE: AES].
Moreover, the scores have in mind AGIC’s continued favorable working traits and risk-adjusted capitalization, sound danger administration capabilities with a deal with sustaining bettering capitalization, underwriting efficiency and conservative steadiness sheet methods. Surplus has greater than doubled over the previous 5 years. The scores additionally contemplate AGIC’s vital function as a single-parent captive and the implied help supplied by its mum or dad. AGIC is a core aspect of AES’ general danger administration program, which makes use of the captive as an integral half on this course of. AES regularly evaluates the usage of AGIC for different danger administration goals of the group as they come up.
AGIC is wholly owned by AES, a Fortune 500 world vitality firm that, by means of its subsidiaries and associates, operates a diversified portfolio of era, distribution and vitality storage companies, which ship protected, dependable and sustainable vitality whereas serving to organizations of every kind of their clear vitality transitions.
AM Greatest stays the main ranking company of different danger switch entities, with greater than 200 such automobiles rated in the US and all through the world. For present Greatest’s Credit score Scores and impartial knowledge on the captive and various danger switch insurance coverage market, please go to www.ambest.com/captive.
This press launch pertains to Credit score Scores which have been revealed on AM Greatest’s web site. For all ranking info regarding the discharge and pertinent disclosures, together with particulars of the workplace accountable for issuing every of the person scores referenced on this launch, please see AM Greatest’s Current Score Exercise net web page. For extra info concerning the use and limitations of Credit score Score opinions, please view Information to Greatest’s Credit score Scores. For info on the correct use of Greatest’s Credit score Scores, Greatest’s Preliminary Credit score Assessments and AM Greatest press releases, please view Information to Correct Use of Greatest’s Scores & Assessments.
AM Greatest is a worldwide credit standing company, information writer and knowledge analytics supplier specializing within the insurance coverage business. Headquartered in the US, the corporate does enterprise in over 100 nations with regional places of work in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico Metropolis. For extra info, go to www.ambest.com.
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