Grand Reinsurance Company (Private) Limited
- Grand Reinsurance Company Limited
- Year : Feb 2021
3 Tokens
USD 300.00
Summary
The upgrade of Grand Re’s rating reflects a credit enhancement on the insurer’s stand-alone credit profile from the policyholder guarantee issued by the parent; Masawara Holdings Mauritius Limited (“MHM”, ‘guarantor’). As a result, the financial strength rating on Grand Re will solely reflect the creditworthiness of the guarantor going forward.
Additional Information
The Stable Outlook reflects GCR’s expectations that Masawara’s earnings performance will not reduce below the current range, as the hospitality business recovers from the lockdown from 2H F20 and into FY21. Positive rating action may follow material improvements in capitalisation and liquidity of Masawara.
