For the sixth consecutive year, the Company has been rated as "A-" (Excellent)
by M/s. A.M. Best Europe Ltd. The rating reflects Company's excellent risk
adjusted capitalisation, prospective improvement in underwriting performance
and its leading business profile in the direct insurance market in India. A
partially off-setting factor is the Company's reliance on investment income
which counter balances underwriting losses. But the outlook is stable. A.M.
Best believes the Company's risk adjusted capitalisation is excellent and
anticipates that it will remain sufficient to absorb the likely growth in the
net premium. Further it also expects that there will be a reduction in the
combined ratio in the years to come. The Company is likely to maintain its
leading business position as the largest direct insurer in India, despite
increased competition from private players.
