AM Best Rates Delta’s Affiliates’ Performance Assessment Excellent

KUALA LUMPUR, Nov 3 (Bernama) -- Global credit rating agency, AM Best has affirmed the performance assessment (assessment) of PA-2 (Excellent) of Delta Insurance New Zealand Limited and Delta Underwriting Private Limited, Singapore.

AM Best in a statement said the companies are assessed on a consolidated basis under their parent, Delta International Limited (Delta).

With a stable outlook on the assessment, it reflects Delta’s strong underwriting capabilities, excellent governance and internal controls, strong financial condition, excellent organisational talent, and strong depth and breadth of relationships.

In AM Best’s view, the two affiliated companies exhibit several commonalities with one another and are regarded as strategically and financially important to Delta, providing access to businesses in certain geographic jurisdictions in the Asia Pacific region.

The credit rating agency assesses Delta’s underwriting capabilities as strong, as it has consistently recorded profitable underwriting results over the past few years across a wide range of product lines and geographic regions.

Delta has a highly specialised underwriting philosophy and risk selection process, supported by its in-house underwriting and claims management teams, which enabled the organisation to grow its premium base rapidly through product and geographic expansion over time.

Furthermore, AM Best considers Delta’s governance and internal controls to be excellent, as the company has implemented a sophisticated framework for selecting capacity providers, which elevates the products and coverage it provides to its policyholders.

Delta’s financial condition has been assessed as strong with its track record of profitable operations, stable income sources and positive cash flow. Its organisational talent was also viewed as excellent, and Delta’s senior management is highly experienced in the company’s lines of business.

-- BERNAMA