A.M. Best has affirmed the Financial Strength Rating of A
(Excellent) and the Long-Term Issuer Credit Rating of "a+" of Royal
Bank of Canada Insurance Company Ltd. (RBCICL) (Barbados). The
outlook of these Credit Ratings (ratings) is stable.
RBCICL is a reinsurer that is ultimately owned by Royal Bank of Canada,
the largest bank in Canada, as measured by assets. RBCICL primarily
reinsures life/health insurance risks from unaffiliated international
reinsurers. The company participates as a treaty partner in life
retrocession pools, trade credit pools and annuity longevity reinsurance.
The rating affirmations reflect RBCICL's diversified operating profile,
solid capitalization, strong return on equity and strong liquidity
position. RBCICL's investment portfolio is composed of cash and high
credit quality sovereign, corporate and supranational bonds.
Additionally, the company's long-standing record of favorable earnings
While recognizing the solid market position of Royal Bank of Canada,
A.M. Best notes that premium growth depends upon the strngth of the
Canadian and global economy. Any potential decrease in consumer loan
activity could adversely impact the credit insurance market.
This press release relates to Credit Ratings that have been published
on A.M. 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 A.M. Best's Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view Understanding
Best's Credit Ratings.
A.M. Best is the world's oldest and most authoritative insurance
rating and information source. For more information, visit www.ambest.com.
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its
subsidiaries. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170405006077/en/
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