Specialty market leader has superior ratings affirmed
AM Best has affirmed the financial strength rating of A++ (Superior) and the long-term issuer credit ratings of “aa+” (Superior) of Bermudian-based HCC Reinsurance Company Limited, together with the property/casualty members of Houston Casualty Group.
The agency also affirmed the FSR of A++ (Superior) and the long-term ICR of “aa+” (Superior) of Indianapolis-based HCC Life Insurance Company.
The outlook of these credit ratings is stable.
The ratings of the P/C members of the group reflect their consolidated balance sheet strength, which AM Best assesses as strongest, as well as their strong operating performance, favourable business profile and very strong enterprise risk management of the consolidated operations.
The ratings also recognise the group’s position as a specialty market leader that is considerably well-diversified by product, jurisdiction and distribution.
The ratings also consider the operational, financial and ERM support provided by Tokio Marine & Nichido Fire Insurance Co Ltd, which is the lead insurance operating company in the Tokio Marine Holdings Inc organisation. These factors include day-to-day operational synergies across its US-based subsidiaries, reinsurance support and economic capital modelling that is superior to peer companies.