Ratings agency AM Best has affirmed the A insurer financial strength rating for Bermuda-based Endurance Speciality Insurance and its subsidiaries.
It said the rating reflected the company's superior risk-adjusted capitalisation, excellent operating performance, highly experience management team and strong broker relationships.
A partially offsetting factor in the rating was the potential market pressure on pricing, which could dampen expected returns and exposure to low frequency, high severity property casualty losses, said AM Best. The company said it would continue to monitor closely Endurance's operations and performance.
At the same time, Endurance announced the appointment of Galen Barnes to its board of directors.
Barnes was previously president and chief operating officer of Nationwide Mutual Insurance.
