Baku – APA-Economics. A.M. Best has assigned a financial strength rating of B+ (Good) and an issuer credit rating of “bbb-” to AzRe Reinsurance, OJSC (AzRe), Business Wire reported.
The outlook assigned to both ratings is stable.
The ratings of AzRe reflect its strong risk-adjusted capitalisation and operating performance, as well as its solid profile as the sole reinsurer in the domestic market. Partly offsetting these factors are the high concentration risk inherent within AzRe’s underwriting portfolio and the execution risk associated with the company’s expansion strategy.
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