A.M. Best Co. announced that it has placed the financial strength rating of “A-” (Excellent) of New Zealand’s Consumer Insurance Services Limited (CISL) under review with developing implications.
Best said it “remains concerned about the decline in CISL’s risk-adjusted capitalization due to the continued growth of its underwriting portfolio.” It also explained that the “rating action follows CISL’s recent announcement that it plans to increase its capital to support the continued growth of its underwriting portfolio.”
The rating agency expects to resolve the under review status in the short term.
Topics Commercial Lines
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
IMA Latest to Sue Howden Over Alleged Employee Poaching 
