AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Bosna Reosiguranje d.d. Sarajevo (Bosna Re) (Bosnia and Herzegovina [BH]). The outlook of these Credit Ratings (ratings) remains stable.

The ratings reflect Bosna Re's balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

"Bosna Re's balance sheet strength is supported by the strongest level of risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR). The company's balance sheet strength benefits from a well-rated retrocession panel and prudent reserves. (...) The company has paid extraordinary dividends over the last three years, returning proceeds from a large asset sale, which has limited capital growth. With no more extraordinary dividends forecast going forward, AM Best expects prospective risk-adjusted capitalisation to benefit from internal capital generation and remain at the strongest level," AM Best explained.

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Source: ambest.com