A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of IRB-Brasil Resseguros SA (IRB) (Brazil).
The ratings reflect IRB's balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The revised outlooks to positive from stable are based on IRB's enhanced financial flexibility after the IPO in the Brazilian stock exchange last year, coupled with continued strong operating performance in an adverse and still challenging macroeconomic environment, with lower interest rates and a more open and competitive marketplace.
Source: A.M. Best Ratings Services, Inc. Used under license.
