A.M. Best Affirms Rating of Royal Bank of Canada Insurance.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--July 18, 2003 A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. Insurance Company Ltd., (RBCI RBCI Radio Based Combat Identification RBCI Robin Boundary Condition Iteration (numerical method) ) (St. Michael, Barbados). The rating has a stable outlook. The rating for RBCI reflects its prudent capitalization, excellent underwriting and operating performance, sound investment portfolio and balance sheet liquidity. The rating also considers the stability and expertise that the company receives from its ultimate parent company, Royal Bank of Canada. RBCI benefits from a broad geographical spread of risk, which compliments its diverse product mix as its book of business includes reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and retrocession RETROCESSION, civil law. When the assignee of heritable rights conveys his rights back to the cedent, it is called a retrocession. Erskine, Prin. B. 3, t. 5, n. 1; Dict. do Jur. h.t. for life, property and structured business. As a result of its conservative operating practices, RBCI has consistently generated above average returns. Partially offsetting these rating strengths are challenges in its property and structured reinsurance portfolios due to catastrophic activities. In addition, the low interest rate environment has affected RBCI's investment yield in recent years. However, RBCI is currently repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. its property portfolio, and a hardening hardening, in metallurgy, treatment of metals to increase their resistance to penetration. A metal is harder when it has small grains, which result when the metal is cooled rapidly. reinsurance market should help turn around its performance. Its core business, life retrocession, continues to consistently generate excellent results, which will further enhance RBCI's financial strength. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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