HONG KONG - MAY 12, 2021 01:15 PM (EDT)
AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ (Good) of Century Insurance Company (Guam) Limited (CIC Guam) (Guam). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect CIC Guam s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
These ratings were initially placed under review on 3 July 2019, following an announcement that DB Insurance Co., Ltd. (DBI) entered into an agreement with CIC Guam s parent company, Tan Holdings Corporation (THC), to acquire an 80% stake in each of THC s three insurance subsidiaries, including CIC Guam and two other insurers in Saipan and Papua New Guinea. Based on AM Best s recent exchange with company management, THC and DBI have t
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