AM Best Assigns Credit Ratings To AXIS Specialty
AM Best has assigned a Financial Strength Rating of A [Excellent] and a Long-Term Issuer Credit Rating of “a+” [Excellent] to AXIS Specialty Insurance Limited [ASIL] [Pembroke, Bermuda], a subsidiary of AXIS Capital Holdings Limited [Axis Capital]. The outlook assigned to these Credit Ratings [ratings] is stable.
The ratings agency said, “The ratings reflect ASIL’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.
“The ratings of ASIL also reflect the company’s role as an internal reinsurer of affiliated businesses, and the reinsurance, liquidity and other implicit support provided to other AXIS Capital entities. ASIL’s portfolio includes a variety of specialty lines of business, making this entity strategically important to its parent, AXIS Capital, which has focused on becoming a leading specialty insurer.”
