-

AM Best Places Credit Ratings of Bao Minh Insurance Corporation Under Review With Negative Implications

SINGAPORE--(BUSINESS WIRE)--AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) of Bao Minh Insurance Corporation (BMI).

The under review with negative implications status reflects concerns around BMI’s internal control environment and enterprise risk management following the occurrence of insider fraud, which may negatively impact the company’s credit fundamentals.

AM Best expects to resolve the under review status once it can assess the impact of these transactions on BMI’s credit fundamentals, alongside the effectiveness of the company’s remedial actions and risk management control measures.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Xin Ya Ong
Financial Analyst
+65 6303 5024
xinya.ong@ambest.com

Chris Lim, FCII, CFA
Director, Analytics
+65 6303 5018
chris.lim@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Industry:

AM Best

Release Versions
English
Hashtags
#insurance

Contacts

Xin Ya Ong
Financial Analyst
+65 6303 5024
xinya.ong@ambest.com

Chris Lim, FCII, CFA
Director, Analytics
+65 6303 5018
chris.lim@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Social Media Profiles
AM Best / LinkedIn
More News From AM Best

AM Best Issues Correction to Issue Credit Rating on Teachers Insurance and Annuity Association of America’s Surplus Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has issued a correction to the previously published assignment of a Long-Term Issue Credit Rating (Long-Term IR) of “aa” (Superior) of the forthcoming $2 billion, 30-year surplus notes, issued by Teachers Insurance and Annuity Association of America (TIAA) (New York, NY) with a stable outlook. The Long-Term IR of “aa” has been corrected to include an indicative modifier. The previous press release, “AM Best Assigns Issue Credit Rating to Teachers Insuranc...

AM Best Affirms Issue Credit Rating of Weston2044 LLC Series Hannover, No. 1 Variable Funding Credit Linked Note

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a” (Excellent) on the $1.654 billion (which upsized to $1.805 billion outstanding as of March 31, 2026), 6.00% Series Hannover, No. 1 variable funding credit-linked note (note), due Oct. 1, 2044, of Weston2044 LLC (Weston2044), a Delaware limited liability company (issuer). The outlook of this Credit Rating (rating) is stable. The note is in consideration of a variable funding surplus note...

AM Best Affirms Issue Credit Ratings of Weston2038 LLC’s Credit-Linked Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a” (Excellent) on the $846 million (of which $407 million remained outstanding as of March 31, 2026), 6.00% Series Hannover, No. 1 variable funding credit-linked note (Block 1 CLN), due July 1, 2038, issued by Weston2038 LLC (Weston2038), a Delaware limited liability company (issuer). Concurrently, AM Best has affirmed the Long-Term IR of “a” (Excellent) on the $433 million (which upsized to...
Back to Newsroom