HONG KONG, May 29 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of DTRIC Insurance Company, Limited (DTRIC), and its reinsured affiliate, DTRIC Insurance Underwriters, Limited. The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Honolulu, HI.
 
The ratings reflect DTRIC’s adequate risk-adjusted capitalization and improved operating performance. The ratings also reflect the implicit and explicit support provided by its ultimate parent company, Aioi Nissay Dowa Insurance Company Limited (ADI), which currently owns 74.8% of DTRIC’s shares. ADI is a wholly owned subsidiary of MS&AD Insurance Group Holdings, Inc.
 
DTRIC’s risk-adjusted capitalization has stabilized in the past two years with a modest increase in profits. Its operating performance has recovered due to various measures taken to improve underwriting performance, although this performance remains at a modest level. Overall, the company’s results continue to underperform those of its peers in several key financial measures.
 
Positive rating actions may occur if the company’s risk-adjusted capitalization improves significantly and operating performance stabilizes in line with the performance of DTRIC’s peers.
 
Negative rating actions may occur if the company’s operating performance or risk-adjusted capitalization further deteriorates.
 
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
 
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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
 
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
 
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
 
Contacts
A.M. Best
Seewon Oh, +852 2827 3404
Associate Director, Analytics
seewon.oh@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Moungmo Lee, +65 6589 8412
Managing Director, Analytics
moungmo.lee@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

Source: A.M. Best
 
View this news release online at:
http://www.businesswire.com/news/home/20170526005548/en

--BERNAMA