AM Best has affirmed the A (excellent) financial strength rating of Catlin Insurance Company Limited (CICL).
At the same time it affirmed the A (excellent) rating of Catlin’s Lloyd’s Syndicate 2003.
The outlook for both ratings remains stable.
Commenting on CICL’s rating, AM Best said it reflected the company’s strong capitalisation and profitable expected performance. An offsetting factor in the rating is CICL’s expected rapid growth in 2004, said the ratings agency.
For Syndicate 2003, AM best said the rating reflected the syndicate’s strong anticipated underwriting performance, its capital flexibility, and its excellent profile within the London market, in addition to the financial strength of the Lloyd’s market rating.
An offsetting factor in the syndicate’s rating is the possibility of more volatile returns in the future, following the cessation of a whole account stop loss reinsurance in 2004.
