(ADPnews) - Nov 19, 2009 - AM Best confirmed Thursday its A- (excellent) financial strength rating (FSR) and the "a-" issuer credit rating (ICR) on South African Flagstone Reinsurance Africa Ltd.
The ratings reflect the company's strong risk-adjusted capitalisation, as well as the explicit support provided by its parent, Flagstone Reassurance Suisse SA, the rater explained.
Offsetting factors include the execution risks associated with the company's business plan given the rapid growth, the competitive South …
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