National Reinsurance Gets “PRS A” Rating

The National Reinsurance Corporation of the Philippines (Nat Re), the Philippines’ sole professional reinsurer, was assigned a financial strength rating of PRS A, with a Stable Outlook, by the Philippine Rating Services Corporation (PhilRatings). A PRS A rating means that an insurer has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions compared to higher-rated insurance companies. A Stable Outlook is defined as: “The rating is likely to be maintained or to remain unchanged in the next twelve months.” The assigned financial strength rating and Outlook take into consideration Nat Re’s: a) solid market franchise; b) shareholders of good standing; c) experienced management; and d) sound investment portfolio.