KUALA LUMPUR, July 22 (Bernama) -- The outlook of DPL Insurance Limited (DPL) New Zealand has been revised to positive from stable, according to AM Best.
The positive outlook reflects an improving trend in DPL’s balance sheet fundamentals, including risk-adjusted capitalisation and the size of its absolute capital base.
These factors, coupled with AM Best’s expectation of controlled growth and robust underwriting performance over the medium term, could lead to positive rating actions.
Moreover, the global rating agency also affirmed the Financial Strength Rating of B+ (good) and the Long-Term Issuer Credit Rating of ‘bbb-’ of the insurance company.
The ratings reflect DPL’s balance sheet strength, which AM Best has described as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The ratings also factor in a neutral impact from the company’s ultimate ownership by Turners Automotive Group Limited, a motor vehicle retailer and financial services group in New Zealand.
Going forward, AM Best expects improved underwriting performance to support a greater balance of overall earnings.
More details at www.ambest.com