A.M. Best affirms credit ratings of HSB Engineering Insurance Limited
The following release was taken from the official press release featured on A.M. Best's website.
A.M. Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aa+” of HSB Engineering Insurance Limited (HSBEIL) (United Kingdom). The outlook of these Credit Ratings (ratings) remains stable.
The ratings reflect HSBEIL’s strategic importance to its parent, The Hartford Steam Boiler Inspection and Insurance Company, a member of The Hartford Steam Boiler Group (HSB group), as its principal source of international diversification. Furthermore, HSBEIL is material to the business profile of HSB group, is fully integrated into the group’s operations and management, has a track record of supporting the group’s strategy and is clearly identifiable with the group. HSBEIL underwrites niche engineering risks in the U.K. and overseas, including equipment breakdown, property damage, cyber and energy insurance.
The ratings of HSB group reflect its balance sheet strength, which A.M. Best categorises as strongest, as well as its very strong operating performance, very favorable business profile and very strong enterprise risk management.
This press release relates to Credit Ratings 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 see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
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