AM Best Affirms Credit Ratings of AES Global Insurance Company
01 Diciembre 2023 - 8:36AM
Business Wire
AM Best has affirmed the Financial Strength Rating of A
(Excellent) and the Long-Term Issuer Credit Rating of “a”
(Excellent) of AES Global Insurance Company (AGIC) (Burlington,
VT). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect AGIC’s balance sheet strength, which AM Best
assesses as very strong, as well as its strong operating
performance, neutral business profile and appropriate enterprise
risk management. The ratings also reflect the improved credit
profile of AGIC’s parent, The AES Corporation (AES) [NYSE:
AES].
AGIC continues to demonstrate strong operating performance
through its favorable underwriting results and benefiting from
inherently low expense structures. The ratings reflect AGIC’s sound
risk management capabilities with a focus on sustaining improving
capitalization, underwriting performance and conservative balance
sheet strategies. As a single-parent captive for AES, AGIC remains
an integral part of the parent’s overall risk management framework,
and AES continually evaluates the use of AGIC for the group’s risk
management objectives as those arise. The ratings also consider
AGIC’s strategic importance to its parent, and the implied support
provided by AES.
AGIC is wholly owned by AES, a Fortune 500 global energy company
that, through its subsidiaries and affiliates, operates a
diversified portfolio of generation, distribution and energy
storage businesses, which deliver safe, reliable and sustainable
energy while helping organizations of all types in their clean
energy transitions.
AM Best remains the leading rating agency of alternative risk
transfer entities, with more than 200 such vehicles rated in the
United States and throughout the world. For current Best’s Credit
Ratings and independent data on the captive and alternative risk
transfer insurance market, please visit
www.ambest.com/captive.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best's Credit Ratings. For information
on the proper use of Best’s Credit Ratings, Best’s Performance
Assessments, Best’s Preliminary Credit Assessments and AM Best
press releases, please view Guide to Proper Use of Best’s
Ratings & Assessments.
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 London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2023 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231201985782/en/
Chul Lee Senior Financial Analyst +1 908 882
2005 chul.lee@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Fred Eslami Associate Director +1 908 882
1759 fred.eslami@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com
AES (NYSE:AES)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
AES (NYSE:AES)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024