LONDON–(BUSINESS WIRE)–As countries face the consequences of the COVID-19-driven recession, there is elevated economic and financial system risks that (re)insurers must navigate. Despite the challenging landscape insurers have demonstrated that effective management of country risk components can lead to Credit Ratings (ratings) being higher than the sovereign of their domicile, a new special report from AM Best explains.
The Best’s Special Report, titled “Understanding Country Risk Evaluation in Best’s Credit Ratings” outlines AM Best’s approach to evaluating country risk and details the differences between country risk (the country specific factors that could adversely affect an insurer’s ability to meet its financial obligations) and sovereign risk (the country’s ability to service its debt obligations). It looks at the spread of AM Best’s ratings across the EMEA, Central and South Asia, and Asia Pacific portfolios and examines the reasons that a rating might be higher or lower than the sovereign. The report highlights the role of country risk assessment in Best’s Credit Rating Methodology and looks at ways that companies can mitigate or adapt to country risk.
To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=300009.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
Mahesh Mistry
Senior Director, Criteria
+44 20 7397 0325
[email protected]
Ann Modica
Associate Director, Criteria
+1 (908) 439-2200, ext. 5209
[email protected]
Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
[email protected]
Edem Kuenyehia
Director, Market Development &
Communications
+44 20 7397 0280
[email protected]
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