Bermuda-based insurer and reinsurer Alea Group Holdings said it welcomed the A- (excellent) rating from AM Best for its wholly owned US Subsidiary Alea North America Speciality Insurance.
AM Best said the rating reflected the subsidiary's core status within the Alea group. The outlook on the rating is stable.
Alea group chief executive, Dennis Purkiss, said: "We are delighted that A.M. Best has assigned this rating to our North American specialty insurance subsidiary.
"Alea Specialty's rating further extends the Group's considerable capabilities in the insurance market, and in particular, in the North American excess and surplus lines market.
"With Alea London, and now Alea Specialty, we believe the growth prospects for this business remain excellent."
