OGIG allocates over 26% of its weight to Asian equities, and that difference is impactful, because OGIG is outpacing the largest internet ETF -- which is comprised solely of domestic stocks -- by about 1,000 basis points this year.
The growth of global e-commerce sales is another long-term tailwind for OGIG, and with online retail surging in markets outside the growth, that growth could propel this ETF to more outperformance of rival funds.
The ICR upgrades reflect OGIG s continued consistent operating results and its favorable reserve development on both an accident and calendar year basis.
OGIG s management continues to monitor and improve performance, underwriting guidelines and rate adequacy.
8 July 2011 - AM Best has lifted to B++ (good) from B+ (good) the financial strength rating and to "bbb" from "bbb-" the issuer credit ratings on the members of Canada-based Optimum General Insurance Group (OGIG).
These positives are somewhat mitigated by the competitive pricing pressure OGIG faces, in particular in commercial lines, and rate adequacy within the Canadian market, the agency added.