MANILA, Philippines - Leading motorcar insurer Standard Insurance Co. has upgraded its national-scale claims-paying ability rating to A (PH), with an outlook of stable, the latest rating accorded by Global Credit Rating Co. (GCR), a highly reputable rating agency operating across four continents.
A highly capitalized non-life insurer, Standard Insurance has also improved its international scale rating of BB with a stable outlook for US dollar-denominated claims paying ability.
In a credit rating released last month, the GCR cited Standard Insurance for its strong and improving capitalization and superior reinsurance facilities from some of the world’s best, highest-rated insurers that protect its motor and property portfolios from catastrophes and large single loss events.