Insurance Sector

CARE’s Issuer Rating for Insurance sector companies is an opinion on a life or non-life insurance company’s business and financial strength and measures its ability to honor policy holders’ obligations and debt payments, if any, as per contractual commitments. The opinion about policy holders’ obligations is not specific to any insurance policy or contract.

The issuer rating assigned to an insurance company is not specific to any particular insurance policy or contract and does not address the suitability of terms of any individual policy or contracts. Additionally, the issuer rating neither considers deductibles, surrender or cancellation penalties nor does it account for likelihood of the use of a defense like fraud to deny claims. The rating also does not consider any limitation that the insurers might face in settling its foreign claims due to exchange control/sovereign restrictions that might be placed on foreign currency payments by the Government of India.

Click here for Rating Methodology for Insurance Sector.