SINGAPORE, Oct 8 (Bernama) -- AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa-” (Superior) from “a+” (Excellent) of MS First Capital Insurance Limited (MSFC) (Singapore). In addition, AM Best has revised the outlooks to stable from positive.
These Credit Ratings (ratings) reflect MSFC’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in rating enhancement from Mitsui Sumitomo Insurance Company Limited, for whom the ultimate parent is MS&AD Insurance Group Holdings, Inc. (MS&AD).
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