|Reflects Highest Financial Strength to meet policyholder obligations.
Any adverse change in circumstances is most unlikely to affect the fundamentally strong position of the company.
|AA||Reflects High Financial Strength to meet policyholder obligations.
Companies rated in this category are only marginally weaker than the 'AAA' rated insurance companies.
|A||Reflects Adequate Financial Strength to meet policyholder obligations.
However, change in circumstances can adversely affect such companies more than those in the higher rating categories.
|BBB||Reflects Moderate Financial Strength to meet policyholder obligations.
However, changing circumstances are more likely to lead to a weakened capacity to meet policyholder obligations than in the higher rating categories.
|BB||Reflects Inadequate Financial Strength to meet policyholder obligations.
Companies rated in this category face uncertainties which could lead to inadequate capacity to meet their policyholder obligations.
|B||Reflects Greater Susceptibility to default on policyholder obligations.
While current obligations are being met, adverse business or economic conditions would lead to a lack of ability or willingness to meet policyholder obligations.
|C||Vulnerable to default.
Policyholder obligations can be met only if favourable circumstances prevail.
The company is not meeting current policyholder obligations.
- Financial strength ratings from 'AA' to 'C' may be modified by use of a '+' (plus) or '-' (minus) sign to show the relative standing of the insurance company within the rating categories.
- CRISIL may assign rating outlooks for ratings from 'AAA' to 'B'. Ratings on Rating Watch will not carry outlooks. A rating outlook indicates the direction in which a rating may move over a medium-term horizon of one to two years. A rating outlook can be 'Positive', 'Stable', or 'Negative'. A 'Positive' or 'Negative' rating outlook is not necessarily a precursor of a rating change.