SINGAPORE–(BUSINESS WIRE)–A.M. Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” from “a-” of ECICS Limited (ECICS) (Singapore). The outlook of these Credit Ratings (ratings) has been revised to stable from negative. The ratings downgrades are driven by an increased combined ratio that compares unfavorably with the industry average, negatively impacting results in recent years. Since 2015, competition has erode
