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Article: Duff & Phelps Credit Rating co. Assigns 'A' Rating to New Cap Reinsurance Corporation Ltd.
- Article from:
- PR Newswire
- Article date:
- October 16, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, Oct. 16 /PRNewswire/ -- Duff & Phelps Credit Rating Co. (DCR) assigned an initial claims paying ability rating of 'A' (Single-A) to New Cap Reinsurance Corporation Ltd. (Australia) and New Cap Reinsurance Corporation (Bermuda) Ltd. Both companies are subsidiaries of New Cap Reinsurance Corporation Holdings Ltd. (New Cap Re), which was incorporated in Bermuda in August 1996, and whose shares are traded on the Australian Stock Exchange. New Cap Re provides specialty property and casualty reinsurance products worldwide through its subsidiaries.
The ratings are based on New Cap Re's success in raising capital of over $150 million, and in meeting initial ...