Fitch Ratings Lanka has revised the outlook on Sri Lanka-based National Insurance Trust Fund Board (NITF) to negative from stable and has affirmed the insurer’s National Insurer Financial Strength (IFS) Rating at ‘AA-(lka)’.
The Outlook revision reflects the increased volatility in NITF’s capitalisation, measured by the regulatory risk-based capital (RBC) ratio, which fell to 180% in 9M19 (2018: 257%). The affirmation reflects NITF’s ‘Favourable’ business profile, financial performance that is better than that of the industry and conservative investment mix.
0 comments: