A.M. Best affirms insurer with stable outlook.
Brit has welcomed the decision by A. M. Best to confirm the ‘A’ Financial Strength Rating for the Group’s principle insurance company subsidiary, Brit Insurance Limited (BIL).
In affirming the rating and stable outlook, the agency commends the company’s excellent risk-adjusted capitalisation, good overall operating performance and excellent market profile.
This is supported by the Agency’s confidence in BIL’s level of prudence in reserves, its enhanced reinsurance programme, including the use of Rockhampton PCC Ltd, and its well diversified book of business.
Dane Douetil, chief executive of the Group, said: “This is the 6th consecutive year that A. M. Best has rated BIL ‘A’ during which the company has grown from a small specialist reinsurer to a well-known and respected general re/insurer writing over 80 classes of business and with an established network of UK offices.
“Our ‘A’ rating is important to our brand and I am delighted that once more it has been independently recognized that our strategy is working and that it justifies an excellent Financial Strength Rating. ”
