AM Best has affirmed the financial strength rating of Heddington Insurance UK (HUK) as A (excellent) with a stable outlook.
The rating action reflected HUK's status as a core subsidiary of its parent company Heddington Insurance, and its excellent stand-alone risk-adjusted capitalisation and operating performance, said AM Best.
The ratings agency said a partially offsetting factor was HUK's lack of diversification due to its status as a single parent captive of energy company ChevronTexaco.
