Tag: AM Best

LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Compagnie Commune de Réassurance des Etats Membres de la CIMA (CICA-RE) (Togo). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect CICA-RE’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management. CICA-RE’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which is expected to remain comfortably at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), with organic capital generation likely to be suffi...

The withdrawal of Niger, Mali and Burkina Faso from the Economic Community of West African States (ECOWAS) is the latest sign of political turmoil in the region, but the direct impact on (re)insurance markets will be limited in the short term, according to a new commentary from AM Best. In a new Best’s Commentary, “(Re)Insurance Markets in West Africa: Navigating Uncertainty Amid Political Shifts,” AM Best notes that while the insurance markets in Niger, Mali and Burkina Faso remain relatively small, large commercial risks require reinsurance, which is predominantly provided through mandated cessions to national and regional carriers (and retroceded to international markets) and traditional reinsurance buying. These are expected to continue to play a critical role in risk-sharing, ...