Bermuda-based Stockton Reinsurance Ltd., the principal operating subsidiary of Stockton Holdings Ltd.

Stockton Re began doing reinsurance and insurance business in September 1994.

Rating agencies usually wait four or five years before assigning a rating to companies.

"A.M. Best noted Stockton Re's excellent capitalisation, consistently strong operating earnings and returns on equity, management and underwriting talent, and continuing commitment to sound underwriting practices and rigorous actuarial analysis, among other attributes,'' according to a press release from the company.

For the year ended March 31, Stockton had $75.4 million in net income. The company wrote gross premiums of $205.6 million. Net premiums earned after reinsurance were $151.3 million.