Credit Rating
SFMI has been recognized by global rating agencies for its strong capital adequacy, sustainable operations, and outstanding risk management
Credit Rating
| Rating Period | S&P | A.M. Best |
|---|---|---|
| 2024 | AA-, Stablepdf download | A++, Superiorpdf download |
| 2023 | AA-, Stablepdf download | A++, Superiorpdf download |
| 2022 | AA-, Stablepdf download | A++, Superiorpdf download |
Ratings Definition
S&P Rating
| Category | Definition | |
|---|---|---|
| Financial Strength Rating |
AAA | Capacity to meet the financial commitments extremely strong |
| AA | Capacity to meet the financial commitments very strong | |
| A | Slightly susceptible to the adverse effects of changes in circumstances and economic conditions. Capacity to meet the financial commitments still strong | |
| BBB | More susceptible to adverse economic conditions or changing circumstances. Good capacity to meet the financial commitments | |
| BB, B and CCC | Indicates significantly speculative characteristics. | |
| Long-Term Issue Credit Rating |
AAA | Extremely Strong Financial Security Characteristics |
| AA | Very Strong financial security characteristics | |
| A | Slightly susceptible to the adverse effects of changes in circumstances and economic conditions. Financial characteristics still strong | |
| BBB | More susceptible to the adverse economic conditions or changing circumstances. Financial characteristics still adequate. | |
| BB, B and CCC | Indicates vulnerable characteristics that may outweigh its strength | |
Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or a minus(-) sign to show relative standing within the category
A.M. Best Rating
| Degree | Definition | ||
|---|---|---|---|
| FSR (Financial Strength Rating) |
Superior | A+ ~ A++ | Superior ability to meet ongoing insurance obligations |
| Excellent | A- ~ A | Excellent ability to meet ongoing insurance obligations | |
| Good | B+ ~ B++ | Good ability to meet ongoing insurance obligations | |
| Fair | B- ~ B |
Fair ability to meet ongoing insurance obligations Financial strength vulnerable to adverse changes in underwriting and economic conditions |
|
| Marginal | C+ ~ C++ | Marginal ability to meet ongoing insurance obligations Financial strength vulnerable to adverse changes in underwriting and economic conditions |
|
| Weak | C-~ C | Weak ability to meet ongoing insurance obligations Financial strength very vulnerable to adverse changes in underwriting and economic conditions |
|
| Poor | D | Poor ability to meet ongoing insurance obligations Financial strength extremely vulnerable to adverse changes in underwriting and economic conditions |
|
| ICR (Issuer Credit Rating) |
Exceptional | aaa | Exceptional ability to meet ongoing senior financial obligations |
| Superior | aa | Superior ability to meet ongoing senior financial obligations | |
| Excellent | a | Excellent ability to meet ongoing senior financial obligations | |
| Good | bbb | Good ability to meet ongoing senior financial obligations | |
| Fair | bb | Fair ability to meet ongoing senior financial obligations Credit quality vulnerable to adverse changes in industry and economic conditions |
|
| Marginal | b | Marginal ability to meet ongoing senior financial obligations Credit quality vulnerable to adverse changes in industry and economic conditions |
|
| Weak | ccc | Weak ability to meet ongoing senior financial obligations Credit quality vulnerable to adverse changes in industry and economic conditions |
|
| Very Weak | cc | Very weak ability to meet ongoing senior financial obligations Credit quality very vulnerable to adverse changes in industry and economic conditions |
|
| Poor | c | Poor ability to meet ongoing senior financial obligations Credit quality extremely vulnerable to adverse changes in industry and economic conditions |
|
ICR categories from ‘aa’ to ‘ccc’ include rating notches to reflect a gradation within a category with a plus(+) or a minus (-)