Endurance Specialty Holdings’ financial strength rating of A has been affirmed by rating agency AM Best Co.

Best said the ratings reflected Endurance’s strong level of risk-adjusted capitalisation, solid historical operating performance over the last few years and its specialty focused, diversified business profile.

The Bermuda re/insurer has continued to focus on writing agriculture insurance, which now accounts for approximately 30 percent of the company’s net premiums written, up from 20 percent in 2009. Some of that increase can be attributed to rising commodity prices.

Best noted: “The agriculture insurance business is not linked to the property/casualty pricing cycle so it can offer a balance to the total underwriting portfolio.

“In addition, Endurance has built a solid enterprise risk management framework that has evolved with the company. In that regard, Endurance’s losses from the rash of global catastrophes in 2011 were within AM Best’s expectations.”