Connect with us

/home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
">
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

Warning: Attempt to read property "cat_name" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

AM Best Affirms Credit Ratings of Health Services Welfare Society Limited

Published

on

Reading Time: 2 minutes

SINGAPORE–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of B+ (Good)
and the Long-Term Issuer Credit Rating of “bbb-” of Health Services
Welfare Society Limited (New Zealand), trading as Accuro Health
Insurance (Accuro). The outlook of these Credit Ratings (ratings) is
stable.

The ratings reflect Accuro’s balance sheet strength, which AM Best
categorizes as adequate, as well as its adequate operating performance,
limited business profile and appropriate enterprise risk management.

Accuro’s balance sheet strength is underpinned by risk-adjusted
capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR),
which is categorized as adequate. This reflects the company’s relatively
high underwriting leverage compared with other New Zealand health
insurers, and its small capital base, which increases the potential for
volatility in its risk-adjusted capitalization. Furthermore, as a mutual
insurer, the company has limited financial flexibility.

Operating performance is adequate, with a moderate level of volatility,
as demonstrated by a five-year average operating ratio of 96.7%
(fiscal-years 2014-2018). Accuro has a track record of positive
earnings, driven by its sound underwriting performance and robust
investment returns. However, the company’s underwriting performance
deteriorated in 2018, mainly owing to its adverse claims experience. In
response, the company increased prices across most of its products.
Prospectively, AM Best expects Accuro to maintain adequate operating
performance, supported by a robust pricing strategy and stable
investment returns.

Advertisement
Stake.com

Accuro is a not-for-profit organization that provides health insurance
in New Zealand. The company’s business profile assessment of limited is
due to its relatively small-scale operations, and limited product and
geographical diversification in New Zealand. It is a small insurer in
New Zealand’s health insurance industry, with a market share of less
than 2% based on gross premiums in 2018. Despite challenging market
conditions, membership has grown steadily over the past five years due
to the development of new products.

Ratings are communicated to rated entities prior to publication.
Unless stated otherwise, the ratings were not amended subsequent to that
communication.

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
Understanding
Best’s Credit Ratings
. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view
Guide
for Media – Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases
.

AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

Advertisement
Stake.com

Contacts

Sin Yee Chuah
Financial Analyst
+65 6303 5022
[email protected]

Myles Gould
Associate Director, Analytics
+65
6303 5020

[email protected]

Christopher Sharkey
Manager, Public Relations
+1
908 439 2200, ext. 5159

[email protected]

Advertisement
Stake.com

Jim Peavy
Director, Public Relations
+1 908
439 2200, ext. 5644

[email protected]


Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493

Warning: Attempt to read property "cat_ID" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493

Cannabis

Pressure BioSciences, Inc. to Host Business and Financial Update on Thursday, June 20th at 4:30pm ET

Published

on

Continue Reading

Cannabis

Global Industrial Hemp Market Size To Worth USD 24.30 Billion By 2033 | CAGR Of 16.27%

Published

on

Continue Reading

Cannabis

Medical Marijuana Packaging Market to Hit Valuation of USD 117.2 Billion By 2032 | Astute Analytica

Published

on

Continue Reading
Advertisement
Stake.com

Latest news

Trending on Grassnews

GrassNews.net: Your premier portal for the latest developments in the cannabis industry. We provide timely news, insightful analysis, and in-depth features on everything from legislation changes and business trends, to scientific research and lifestyle topics. Stay informed and navigate the rapidly evolving cannabis landscape with GrassNews.net..

Contact us: [email protected]

Editorial / PR Submissions

Copyright © 2007 - 2024 Hipther Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania