CBL Insurance Limited [of CBL Corporation Limited]
(ASX:CBL) has retained its financial strength rating and issuer credit rating of A- [a-], from international financial ratings agency A.M. Best.
A.M. Best says its report reflects CBL’s strong risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR).
CBL Insurance says the rating report mentions its moderate underwriting leverage and favourable liquidity position.
A.M. Best says that with a conservative gross leverage ratio, CBL Insurance is not considered to be highly dependent on reinsurance.
Shares in CBL Corporation Limited
(ASX:CBL) are trading 2.65 per cent higher to $3.10.
