QBE LMI earns “A+” S&P Ranking

QBE Lenders’ Mortgage Insurance coverage (LMI) has introduced its upgraded “A+” S&P International Ranking – a testomony to its sturdy risk-based capital and monetary energy.

The change got here in response to S&P International Rankings’ up to date standards for assessing insurers’ risk-based capital. The up to date standards had a optimistic impact on QBE LMI’s stable capital adequacy, resulting in an improve in its Monetary Danger profile by S&P from Robust to Very Robust. With a secure rankings outlook, S&P expects QBE LMI to maintain very robust capital and sound earnings.

After the improve, QBE LMI has turn into the best S&P rated non-public LMI supplier in Australia.

Patricia Priest, basic supervisor of LMI at QBE Australia Pacific, mentioned the improve affirmed the corporate’s dedication to delivering dependable and sturdy mortgage insurance coverage options.

“An improve to an ‘A+’ score from S&P International Rankings underscores the energy of our threat administration, capital, reinsurance construction, various buyer partnerships, geographic protection, and powerful mum or dad firm,” Priest mentioned.

“This recognition not solely reaffirms our dedication to delivering distinctive worth to our companions and stakeholders, but in addition to sustaining our place as a market main participant within the LMI market in Australia.”

Key components contributing to the upgraded score embody an efficient quota share reinsurance construction, robust parental assist from QBE, and a distinguished market share with a various buyer base.

QBE LMI’s partnerships span main banks, regional lenders, worldwide banks, and a big share of customer-owned approved deposit-taking establishments (ADIs).

For extra particulars on QBE LMI’s S&P International Ranking, go to the S&P International Ranking web site.

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