A Bermuda insurance and reinsurance company is among a group of companies that are continuing with excellent credit ratings from AM Best.

Starr Insurance & Reinsurance Limited (Bermuda) is an insurance subsidiary of Starr International Company, Inc (Switzerland), a private investment holding company.

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit ratings of “a+” (Excellent) of the insurance subsidiaries of the Swiss holding company SICO.

SIRL, the Bermuda company, together with Starr International Group, are being recognised for their balance sheet strength, which AM Best assesses as strongest, as well as their adequate operating performance, favourable business profile and appropriate enterprise risk management.

Members of SIG include Dallas-domiciled Starr Indemnity & Liability Company, Starr Surplus Lines Insurance Company and Starr Specialty Insurance Company.

Members of SIRL include Starr Property & Casualty Insurance (China) Company, Limited; Starr International Insurance (Asia) Limited (Hong Kong); Starr International Insurance (Singapore) Pte Ltd; Starr International (Europe) Limited (United Kingdom); Starr International Insurance (Switzerland) AG (Switzerland) and Starr Europe Insurance Limited (Malta).

AM Best said the operations of SIG and SIRL supported a business profile that was well-diversified internationally and by product exposures.

The groups continue to report strong growth trends in their key markets. Overall underwriting results are in line with the commercial casualty composite five-year average combined ratio. The groups have sustained the strongest levels of risk-adjusted capitalisation on a consolidated and per-entity basis, as measured by Best’s Capital Adequacy Ratio, which is further supported by favourable liquidity metrics.

AM Best also notes that each group maintains above-average allocations to alternative asset classes, relative to composite peers, including private equity and debt funds, real estate funds and hedge funds, which are managed by affiliated investment management companies using external asset managers.