Page 191 - Reinsurance Management IC85

Reinsurance Management

important to establish the credit rating of the
reinsurer with reference to his -
- business continuity,
- ability to settle, and
- his country's foreign exchange position.

2. A credit rating is a current opinion of the financial
strengths and security characteristics of an insurer
or reinsurer with respect to his ability to pay
under his insurance policies and contracts in
accordance with their terms.

3. This opinion is not specific to any particular policy
or contract, nor does it address the suitability of
a particular policy or contract for a specific
purpose or purchaser.'

4. Credit ratings are based on information furnished
by rated insurer or reinsurers or obtained by the
rating agency from other sources it considers
reliable. Ratings may be changed, suspended, or
withdrawn as a result of changes in, or

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