A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A+’ (Superior) from ‘A ‘(Excellent) and the issuer credit ratings (ICR) to “aa-” from “a+” of Bermuda-based Arch Reinsurance Ltd., as well as those of its strategic affiliates and its separately rated affiliate, Arch Specialty Insurance Company, headquartered in Omaha, Nebraska.
Best has also upgraded the ICR to “bbb+” from “bbb” of New York-based Arch Capital Group (US) Inc. as well as the ICR to “a-” from “bbb+” and all of the debt ratings of the ultimate holding company, Arch Capital Group Ltd (Bermuda).
The outlook for all of the ratings has been revised to stable from positive.
The upgrades reflect Arch’s “continued superior operating performance amidst challenging market conditions, consistently excellent capitalization and demonstrated risk management ability,” Best explained. Arch maintains a “very strong underwriting culture, which centers on active cycle management and adaptability to varied market conditions. In a market environment where investment yields are hovering at record lows, underwriting profitability needs to be paramount. The company is positioned to write a broad range of property/casualty insurance and reinsurance on a worldwide basis with an emphasis on specialty lines.”
Best also noted that “overall operating results since Arch’s inception have
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