Himalayan Reinsurance Achieves Monumental B+ Rating Upgrade, Rewriting Industry Standards within 2 Years

In a groundbreaking accomplishment, Himalayan Reinsurance, a company that recently obtained the license to operate in the reinsurance sector in India, is now celebrating a monumental upgrade to a B+ rating by the prestigious credit rating agency, AM Best. This achievement within a mere two years is a remarkable feat, setting new industry standards for companies in South-Asia.

AM Best, known for its rigorous evaluation of financial strength, stability, and overall performance, has transitioned Himalayan Reinsurance from a B Fair to a B+ rating, signifying extraordinary growth and financial prowess. Such rapid progression is atypical for companies in the South-Asian region, where the journey to attain such high ratings generally takes significantly longer.

This upgraded rating not only highlights Himalayan Reinsurance’s financial robustness but also serves as a catalyst for unprecedented growth and prosperity. The B+ rating now positions the company to access previously restricted (Re)insurance markets, particularly in European, South-East Asian, Middle East, and African regions. Countries like Egypt, Oman, Qatar, Bangladesh, and Sri Lanka are now within the company’s reach, opening doors to exponential international expansion.

The strategic positioning afforded by this upgraded rating will significantly enhance the volume and quality of business in existing international markets where Himalayan Reinsurance has already established partnerships. The company’s newfound status as one of the region’s very few with a B+ rating from AM Best is a remarkable achievement, particularly for a relatively new reinsurance company from the SAARC region.

Himalayan Reinsurance is optimistic that the B+ rating will lead to a substantial increase in premium inflow from different regions globally. The surge in international business is expected to surpass the 200-crore mark in premium income from the global markets, not only contributing significantly to the company’s revenue but also bolstering the nation’s foreign exchange reserves.

This achievement underscores Himalayan Reinsurance’s commitment to excellence and positions the company as a major player in the international reinsurance landscape. The company expresses pride in this significant milestone and looks forward to further consolidating its position as a trusted and highly rated player in the global reinsurance market.