AM Best reaffirms credit ratings of General Insurance Corporation of India; Stock gains over 1.5%

The credit rating agency has reaffirmed the Financial Strength Rating at B++ (Good); Stable. The long-term issuer credit rating is bbb+ (Good) with the outlook revised to Stable from Negative.

Sep 24, 2021 02:09 IST India Infoline News Service

Analysis Finance Market
AM Best (US-based credit rating agency) has re-affirmed the ratings assigned to General Insurance Corporation of India Limited (GIC Re) and further revised the outlook of Long-Term issuer Rating.

The company said in a filing on Thursday that A M Best has reaffirmed the Financial Strength Rating at B++ (Good); Stable. The long-term issuer credit rating is bbb+ (Good) with the outlook revised to Stable from Negative.

At around 2.46 pm, General Insurance Corporation of India was trading at Rs145.80 per piece up by Rs2.35 or 1.64% from its previous closing of Rs143.45 per piece on the BSE.

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