Rating agency AM Best has affirmed the financial strength ratings of A+ (superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based Everest Reinsurance and its reinsurance and insurance subsidiaries.Concurrently, AM Best has affirmed the ICRs of “a-” of Everest Re Group, Ltd. (Bermuda) and Everest Reinsurance Holdings Inc. (Delaware). A.M. Best also has affirmed the debt ratings of Everest Re Group, Ltd., Everest Reinsurance Holdings Inc., Everest Capital Trust II and Everest Capital Trust III. The outlook for all ratings is stable.According to AM Best, the ratings reflect Everest Re’s consistently superior risk-adjusted capital position, long-term track record of generating favourable earnings, experienced management team and market profile as a leading global provider of insurance and reinsurance products.Given its conservative financial leverage measures, AM Best states that Everest Re maintains strong financial flexibility with the ability to effectively manage its capital through market cycles. “This is evidenced by Everest Re’s five-year average combined ratio, which is below break even, representing underwriting profitability,” the ratings agency said in a statement.“Cash flows from operations also have consistently been strong. Everest Re’s balance sheet is supported by its conservative investment strategy with the current investment portfolio held at a shorter duration and equities at less than ten percent of total investments.”