AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a+' of
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect RBCICL's balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
RBCICL's balance sheet strength remains very strong due to an investment portfolio composed of cash and sovereign, corporate and supranational bonds of high credit quality, resulting in a very favorable liquidity position. Additionally, the company's longstanding record of favorable earnings and operating returns largely reflects its conservative underwriting practices. Well-defined risk limits, targets and procedures to identify and report emerging and ongoing risks, as well as significant stress and sensitivity testing of the company's capital adequacy, are in place to maintain these positives.
RBCICL is owned ultimately by
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