A.M. Best Affirms Credit Ratings of Atradius N.V.’s Main Operating Subsidiaries
Concurrently,
The ratings of Atradius’ main operating entities reflect their strategic importance to the
Atradius’ consolidated risk-adjusted capitalisation is expected to remain excellent, supported by solid earnings generation, a conservative investment strategy, as well as a comprehensive reinsurance programme. The group’s financial leverage and interest coverage ratios are well within the tolerance levels for its ratings. Strong risk-adjusted capitalisation is maintained at each of the rated subsidiaries.
The
Some uncertainty remains with regard to the sustainability of Atradius’ strong technical performance. This reflects the highly competitive nature of trade credit insurance, together with the pressure that years of relatively low claims experience has placed on rates and terms and conditions. Additionally, as with other credit insurers, the threat of a heightened insolvency environment, owing to the reduced level of economic activity in emerging nations, may generate volatility in technical results, due to the high correlation of the group’s earnings with fluctuations in the economic environment. Nonetheless, the group’s technical earnings are expected to be supported by management’s ability to take risk-mitigating actions on non-performing business when required.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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