AM Best Upgrades Milli Re's Rating

AM Best has upgraded Milli Re's financial strength rating from “C++” (Marginal) to “B-” (Fair). The outlook has been revised from stable to positive.

The long-term credit rating has been upgraded from “b” (Marginal) to “bb-” (Fair). The outlook remains positive.

This decision reflectx Milli Re’s adequate balance sheet and operating performance as well as its neutral business profile and marginal enterprise risk management.

This rating upgrade is driven by improved profit retention and greater economic stability in Turkey, where the majority of Milli Re ’s operations and assets are concentrated.