Corporation, announced yesterday it has received a "A '' rating from the A.M.

Best Company ratings agency.

CAIL president Mr. John B. Stites made the announcement yesterday at the Bermuda Market Briefing.

"We're delighted. We really think that certainly this reflects our parentage, the Chubb organisation globally,'' he said.

"But it also is tremendously meaningful, obviously, as others from various markets around the world have taken pot-shots at the security, and the viability and the credibility of capacity in this marketplace. So we are delighted to be carrying the highest A.M. Best rating.'' Bermuda-based CAIL, incorporated in 1993 has capital of $100 million and writes about $5 million in premiums but Mr. Stites said they expect to triple that by 1995.

The company's capacity for all lines written is $25 million but an additional $10 million capacity can be placed if a company already has $25 million placed elsewhere in the Chubb network. Attachment points vary from $2 million to $200 million.

The company receives about 45 submissions per month, gives quotes to about 30 percent of those, and writes about 20 percent of those, added Mr. Stites.