AM Best Affirms Allied World Ratings
AM Best has affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings of “aa-” [Superior] of the operating affiliates of Allied World Assurance Company Holdings, Ltd.’s [Allied World Holdings] [Bermuda], collectively referred to as Allied World.
Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” [Excellent] of Allied World Holdings and its downstream holding company, Allied World Assurance Company Holdings I, Ltd [Bermuda]. The outlook of these Credit Ratings is stable.
The ratings agency said, “The ratings reflect Allied World’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
“The rating affirmations reflect continued strong operating performance trends across Allied World’s business. The group has produced improved and stabilized underwriting returns in recent years, driven by the group’s increased focus on casualty and specialty lines while managing its exposure to property catastrophe business. Furthermore, the group has an expense ratio advantage, which it has benefited from as it has scaled up. Additionally, the group has benefited from an improved stream of net investment income, as more assets have been reallocated to higher yielding bonds in recent years.
“The FSR of A+ [Superior] and the Long-Term ICRs of “aa-” [Superior] have been affirmed with stable outlooks for the following operating subsidiaries of Allied World Assurance Company Holdings, Ltd:
- “Vantapro Specialty Insurance Company
- “Allied World Assurance Company, Ltd
- “Allied World Surplus Lines Insurance Company
- “Allied World Assurance Company [U.S.] Inc.
- “Allied World National Assurance Company
- “Allied World Specialty Insurance Company
- “Allied World Insurance Company
- “Allied World Assurance Company [Europe] Designated Activity Company”
