New National Assurance Company

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New National Assurance Company Limited
  • New National Assurance Company
  • Year : Mar 2021
3 Tokens
USD 300.00
Summary

New National Assurance Company Limited’s (“NNAC”) national scale financial strength was affirmed with a Stable Outlook, reflecting support from very strong liquidity, while risk adjusted capitalisation was maintained within a rating adequate range, and both metrics are viewed to have sufficient buffers to withstand potential risks associated with the weak economy and the COVID-19 pandemic. GCR believes the insurer has sufficient liquidity to cater for potential risks that may arise from the COVID-19 pandemic over the rating horizon.

Additional Information

Despite earnings pressure associated with the COVID-19 pandemic in 1H F20, the Stable Outlook considers the expected recovery from 2H F20, with the insurer likely to post a neutral to slightly positive underwriting margin over the medium term. Positive rating action could follow over the longer term if a positive earnings trend can be established, while maintaining strong balance sheet metrics.

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