Ratings agency AM Best Co. has affirmed the A plus (Superior) financial strength rating of ACE European Markets Insurance Limited (AEMI).

AM Best said the rating reflects AM Best's view of AEMI as a core subsidiary of its ultimate parent, ACE Bermuda Insurance Limited (ACE Bermuda), which is a wholly owned subsidiary of ACE Limited.

AEMI's parent provides it with a quota share reinsurance agreement, efficient management and a strengthened capital base and business position, Best said in a release.

Best said the company satisfies its requirements for reinsurance affiliation, and “therefore assumes the current group rating of A plus (Superior)”.

It added that parental reinsurance support was a bonus with the quota share reinsurance agreement between AEMI and ACE Bermuda came into effect September 1, 1997, and was revised January 1, 2001.

It also points to efficient management and said that in addition to financial support, AEMI also benefits from management and technical resources available within the ACE group.