(Excellent) to finite reinsurer Scandinavian Reinsurance Co. Ltd. of Bermuda.

Reflected in that rating, Best said, is the company's excellent capitalisation, premium growth, profitability, sound underwriting practices and position as a lead provider of finite capacity to the global marketplace.

Scandinavian Re is part of one of the world's leading electrical, engineering and financial services groups, ABB Asea Brown Boveri Ltd. It is through ABB that the company receives technical and financial benefits and provides unique risk modelling and underwriting capabilities to group members.

Although the company's operations are based in Bermuda, its production is generated through a network of brokers and intermediaries who need custom products to meet insurer, reinsurer, industrial and service company requirements. There are currently more than 100 contracts in force.

Initiative and controlled proactive growth have enabled the company to sustain positive underwriting results, excellent leverage, liquidity and growth within the insurance and reinsurance industry.

From 1990 to 1995, equity grew from $57.5 million to $132 million. Equity in the calendar year 1995 alone grew 27.7 percent as a result of excellent underwriting and operating results.

The combined ratio was 91.9 percent, with its net operating ratio being 77.4 percent.