A.M. Best has affirmed the financial strength of Inpex Insurance (IIL) to “A- excellent” and a credit rating of “a-”.
The ratings are a reflection of IIL’s reinsurance credit risk stemming from the large size of gross risks relative to its low retention level.
According to A.M. Best, the ratings are a testament to IIL’s robust risk-adjusted capitalisation, conservative operating strategy and explicit parental support.
IIL is a Class 1 insurer domiciled in Bermuda and the single-parent captive of Inpex in Japan. As the captive insurer for its parent company, IIL provides insurance for Inpex and its affiliates.
A.M. Best considers IIL to be well positioned for its current rating level, but warns that negative ratings could occur if there is a significant loss of surplus, or significant change in IIL’s risk profile.
