AM Best revises GIC Re’s credit rating to Positive

Chennai, Nov 23 : Global credit rating agency AM Best has revised its outlook on General Insurance Corporation of India’s (GIC Re) financial strength rating (FSR) from Stable to Positive.

The rating agency has also revised GIC Re’s Long Term Issuer Credit Rating to Positive from Negative.

These revisions come alongside the affirmation of GIC Res FSR of B++ (Good) and Long-Term ICR of "bbb+" (Good), highlighting the corporations robust financial standing.

Moreover, AM Best has assigned GIC Re an India National Scale Rating (NSR) of aaa.IN (Exceptional) with a stable outlook, underlining the companys exceptional performance within the Indian market.

కొడుకు కోసం అలాంటి కథను ఎంచుకున్న నాగార్జున.. తండ్రి నమ్మకం నిజమవుతుందా?...

"We are pleased with AM Bests revised outlooks and the exceptional NSR assigned to GIC Re.These acknowledgments underscore our commitment to maintaining a robust balance sheet and enhancing our enterprise risk management strategies," said Ramaswamy N, Chairman and Managing Director of GIC Re.

Indias national reinsurer, GIC Re is ranked 16th globally in terms of gross premium written and has a market share of 60-70 per cent.

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