The rating agency AM Best highlights the operating performance and good capitalization level of Sham group to the risks. The financial strength rating and issuer credit (A-) is accompanied by a stable outlook.
The group Sham that provides facilities Health and players in the medico-social sector has just obtained from AM Best note “A-” with a stable outlook. This rating relates to the financial strength and the credit program.
The rating agency justified its decision by the good performance achieved by Sham operationally and its level capitalization adapted to the risks. Were also taken into account in the assessment of the robustness of the model risk management and performance of the program réasssurance Sham.
Reduction DEPENDENCE LA RC Medical
AM Best underlines the strong positions of the Group the French market medical liability (70% of premiums and 95% of technical provisions). This concentration is mitigated risk, according to the rating agency, by the discipline shown by the Sham group’s stock , pricing and Management . Loss
In addition, AM Best notes that the mutual insurance company has initiated changes to reduce its dependence on medical liability: acquisition of the broker Sofaxis in 2013 and development of its business in Spain and Italy since 2014.
The rating agency believes that the group posted good performance. At the end of fiscal 2014, the Net profit is € 16.7 million, and its return on equity to 7%, despite a combined ratio 102%, which is mainly due to the prudence of the group’s Provisioning .
The rating agency also emphasizes that the insurance business is supported by a strategy of investment careful that generates regular income.
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