A.M. Best Withdraws Ratings of The Stuart Insurance Group, Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of The Stuart Insurance Group, Ltd. (Stuart) (Bermuda). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings in response to Stuart’s request to no longer participate in A.M. Best’s interactive rating process.

The ratings reflect Stuart’s excellent risk-adjusted capitalization, strong operating performance, solid strategic relationship with its sponsoring shareholder and its established presence as an alternative market vehicle. Stuart further benefits from the experienced underwriting, claims management and actuarial services of the Liberty Mutual Group (LMG), as part of the overall services provided to the ultimate client participating in the rent-a-captive program. Stuart’s partnership with LMG provides the facility with a relatively stable and diverse book of property/casualty business and good geographic distribution.

Partially offsetting these strengths are Stuart’s dependence upon one source for the business it receives and its relatively small insured base.

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/20150811006247/en/

A.M. Best
Janet Hernandez
Senior Financial Analyst
(908) 439-2200, ext. 5767
[email protected]
or
Steven Chirico, CPA
Assistant Vice President
(908) 439-2200, ext. 5087
[email protected]
or
Christopher Sharkey
Manager, Public Relations
(908) 439-2200, ext. 5159
[email protected]
or
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
[email protected]

Source: A.M. Best Company

You May Also Be Interested In

• Form 8.5 (EPT/RI) - Pharos Energy Plc
• Form 8.5 (EPT/RI) - AEW UK REIT plc
• FUGA Crossing Switzerland 400k Trail Celebrates Record Finishers