A.M. Best Affirms Ratings of EC Insurance Company Limited

LONDON--(BUSINESS WIRE)-- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of EC Insurance Company Limited (ECIC) (United Kingdom). The outlook for both ratings remains stable.

The ratings reflect ECIC’s excellent risk-adjusted capitalisation, strong operating performance and established specialist business profile. Risk-adjusted capitalisation remains at an excellent level, despite the further strengthening of asbestos loss reserves, supported by retention of a significant proportion of the 2014 operating profit.

Offsetting factors include volatility in performance, very strong growth and limited financial flexibility. Although the growth in business is in familiar markets or through well-established broker relationships, A.M. Best will continue to monitor closely the profitability of this business and the effect of increased underwriting risk on ECIC’s risk-adjusted capitalisation.

ECIC has a solid niche business profile, primarily providing insurance to electrical and mechanical building services contractors and other specialist construction professionals in the United Kingdom. The company benefits from its relationship with its parent, The Electrical Contractors’ Association (ECA), which provides access to a large membership base.

In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best Europe - Rating Services Limited Supplementary Disclosure.

This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150917006024/en/

A.M. Best Company
David Drummond, +(44) 20 7397 0327
Senior Financial Analyst
[email protected]
or
Catherine Thomas, +(44) 20 7397 0281
Senior Director – Analytics
[email protected]
or
Christopher Sharkey, +(1) 908 439 2200, ext. 5159
Manager, Public Relations
[email protected]
or
Jim Peavy, +(1) 908 439 2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best Company

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