AM Best affirmed the financial strength rating B++ (very good) of Ansvar Insurance Company. The outlook remains stable.
AM Best said: "The rating reflects Ansvar's very good capitalisation, improved underwriting performance and strong business profile. An offsetting factor is the potential difficulty the company may have in maintaining rates during the soft market."
AM Best said Ansvar's combined ratio was likely to remain below 90% for the next two years. Ansvar's risk-adjusted capitalisation has been maintained at a very good level over 2003, aided by increased retention of earnings following an excellent year, which resulted in after-tax profits of £2.1m compared to £943,000 the previous year.
