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Rating agency ICRA has assigned TATA AIG General Insurance Company, one of India's leading private sector general insurers, the 'iAAA' rating (pronounced as I triple A) for its claims-paying ability.
The rating agency in a statement said that the rating factors in TATA AIG’s strong presence in niche segments like travel, liability and marine cargo insurance.
It added that Tata AIG has also established moderate underwriting profitability indicators, reinsurance and product development and higher share of commercial business in the product mix.
Neelesh Garg, MD & CEO, Tata AIG General Insurance Company, said, “'iAAA' being the highest industry rating for claims paying ability for an insurance company signifies our company's strong commitment to our partners and customers.”
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