AM Best Affirms Credit Ratings of TD Reinsurance (Barbados) Inc.

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of TD Reinsurance (Barbados) Inc. (TD Re). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect TD Re’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

TD Re maintains the strongest level of risk-adjusted capitalization as measured by Best's Capital Adequacy Ratio (BCAR). TD Re also implicitly benefits from the financial strength and well-respected name of its ultimate parent, The Toronto-Dominion Bank (TD Bank), as evidenced by the parent’s prior record of capital support through internal loans and other inter-company agreements. TD Re maintains a formal risk appetite statement, which has evolved to incorporate greater diversification of assumed business. The reinsurer carries out stress testing under an economic capital approach, under which capital is managed according to reported IFRS equity exceeding a conditional tail expectation measure at a defined confidence level.

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 specializing 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.

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