Oslo Marine underwriting rated

AM Best has affirmed the financial strength rating of Scandinavia Insurance Company (SIC), the underwriting subsidiary of St Petersburg-based Oslo Marine Group, as B (Fair). The company’s issuer credit rating remains at bb+ and the outlook for both ratings is stable.

Keith Parker, managing director of OMG’s London office, said: “During 2008 we embarked on a programme to re-focus SIC’s activity, enabling us to leverage our specialist expertise in the marine sector. This affirmation of the company’s rating during challenging trading conditions will help us progress that initiative.”