AM Best Co. has affirmed the financial strength rating (FSR) of A (excellent) and issuer credit ratings (ICR) of "a" of Hiscox USA Group and its lead member, Hiscox Insurance Company Inc. (HICI), of Geneva, Illinois.

Hiscox USA is comprised of HICI and HICI's inactive subsidiary, Hiscox Specialty Insurance Company, Inc. The outlook for all ratings is stable.

In concurrence with this affirmation, Best has afforded Hiscox USA and HICI full rating enhancement, and both have been extended the ratings of HICI's Bermuda-based affiliate, Hiscox Insurance Company (Bermuda) Ltd. (Hiscox Bermuda).

Hiscox USA and HICI's ratings are based on Best's group rating methodology and take into consideration HICI's role and strategic importance to the Hiscox group, as well as the implicit and explicit support provided by the Hiscox group in the form of quota share reinsurance with Hiscox Bermuda and a guarantee on all third-party reinsurance recoverables with the Bermudian ultimate parent holding company, Hiscox Ltd.

The FSR of A (excellent) and ICR of "a" of Hiscox Bermuda are unchanged.