A.M. Best said that the upgrade reflects MIIC’s improving risk-adjusted capitalisation, good prospective operating performance and support from its US parent company, Markel Corporation.
A.M. Best said it expected further improvement in MIIC’s risk-adjusted capitalisation in 2007 as a result of positive after-tax earnings, commutation of existing liabilities and a reduction in reinsurance recoveries. Capital and surplus is forecast to rise by approximately 10% from $372 million as at year-en
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