A.M. Best Upgrades and Affirms Ratings of Trust International Insurance Co. B.S.C. (c) Bahrain.OLDWICK, N.J. -- A.M. Best Co. has upgraded the issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) to "bbb+" from "bbb" and affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of B++ (Good) of Trust International Insurance Co. B.S.C. (c) Bahrain (TIIC TIIC The Idiots In Charge TIIC Those Idiots In Control ). The outlook for both ratings is stable. The ratings reflect the company's improved risk profile as a result of the reduction of its investments risk by selling a large part of its equity portfolio in 2006. TIIC continues to have strong risk-adjusted capitalisation that is supported by very good operating performance (combined ratio of 75.4% in 2006, including the Lloyd's quota share For This article is about quota shares (shares of the quota). For other usages of quota, see, see . A quota share is a specified number or percentage of the allotment as a whole (quota), that is prescribed to each individual entity (see Non-tariff barriers to trade). ). TIIC's overall earnings are likely to stabilise in 2007 as the company is expected to have a more conservative investment strategy. The company retains a good business profile as a niche energy and property reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. in the Arab world that is complemented by its exposure to the Lloyd's market through a quota share agreement with one of its subsidiaries. Although TIIC remains dependent on 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. , its net retention increased to 23% in 2006, excluding the Lloyd's quota share. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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