AM Best has assigned an initial financial strength rating of B++ (very good) to Through Transport Mutual Insurance Association (EurAsia), the London-based subsidiary of Through Transport Mutual Insurance Association, Bermuda.
Collectively the two companies trade as the TT Club.
AM Best said the outlook was stable.
The rating reflected the company's excellent risk-based capitalisation, very good business profile and solid financial performance, said AM Best.
The ratings agency said it regarded TT EurAsia as a core subsidiary of TT Bermuda.
An offsetting factor in the rating was TT EurAsia's high reliance on reinsurance coverage.
