A.M. Best affirms ratings of Singapore Reinsurance Corporation Limited.The outlook for both ratings is stable. A.M. Best said the ratings reflect Singapore Re's "superior risk-adjusted capitalisation level, increasing presence in overseas markets and highly liquid investment portfolio." The rating agency noted that Singapore Re's risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio Capital adequacy ratio (CAR), also called Capital to Risk (Weighted) Assets Ratio (CRAR)[], is a ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss. (BCAR BCAR Brunswick County Association of Realtors BCAR British Civil Airworthiness Requirements BCAR Bullitt County Animal Rescue (Shepherdsville, KY) BCAR Business Case Analysis Report BCAR Beaver Creek Array BCAR Buffalo Civic Auto Ramps, Inc. ), remained superior despite a 14.8 per cent decrease in capital and surplus in 2008. The decrease was mainly attributed to the impairment losses on investments. Singapore Re has a more diversified underwriting portfolio when compared to its portfolio prior to 2004. In response to the termination of the voluntary cession The act of relinquishing one's right. A surrender, relinquishment, or assignment of territory by one state or government to another. The territory of a foreign government gained by the transfer of sovereignty. CESSION, contracts. , which caused a substantial decrease in gross premiums written When a non-life insurance company closes a contract to provide insurance against loss, the revenues (premiums) expected to be received over the life of the contract are called gross premiums written. (GPW GPW Gridded Population of the World GPW Gross Premiums Written GPW Gross Product Worth GPW Geneva Convention Relative to the Treatment of Prisoners of War, 12 August 1949 GPW General Purpose Warehouse GPW Grand Prix White (Honda) ) in 2005, the company has expanded its business in select overseas markets, particularly China and India, in recent years. As a result, the overseas business contributed approximately 31 per cent of Singapore Re's total GPW in 2008. Singapore Re has a highly liquid investment portfolio, with cash and deposits and fixed income securities comprising nearly 69 per cent of its total assets in 2008. The bond portfolio was comprised of high quality bonds. Offsetting factors, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AM Best include a deteriorated underwriting performance, lack of sustainable premium growth drivers and intensified market competition. Singapore Re suffered from losses attributable to severe winter snowstorms, the Sichuan Earthquake and Guangdong flooding in China in 2008. Additionally, the loss ratio deteriorated by 8.2 per cent in 2008. Given the capital buffer that existed, A.M. Best believes that Singapore Re's prevailing underwriting volatility is still manageable. Nonetheless, A.M. Best remains cautious about Singapore Re's underwriting profitability in its overseas portfolio and the impact on the company's overall operating performance. 2009 CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch. (2) (Counts Per I Financial. All rights reserved. Provided by Syndigate.info an Albawaba.com company |
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