LIFE Insurance Corporation (International), an offshore subsidiary of Life Insurance Corporation of India, has received a rating affirmation from the international rating agency, AM Best.
LIC (International) has received a financial strength rating of ‘B’ (Fair) and long-term issuer credit rating of ‘bb’ (Fair), both while retaining a stable outlook.
The rating reflects the strength of LIC (International) balance sheet, which is evaluated as ‘Strong’. The stable outlook reflects the expectation that the company will continue its strong balance sheet fundamentals over the medium term while ensuring full compliance with regulatory solvency requirements. The company’s operating performance and business profile fundamentals are projected to remain stable as it continues execute its strategic plan.
