AM Best assigns ratings to ART Bermuda

Rating agency AM Best has assigned strong ratings to Allianz Risk Transfer (Bermuda), reflecting the company’s expectation of good operating performance.

The rating agency assigned a financial strength rating of A+ (Superior) and an issuer credit rating of aa- to ART Bermuda, with a stable outlook.

AM Best said the ratings reflect the company’s strategic importance to Allianz Risk Transfer, whose ultimate parent is Allianz. Additionally, the ratings reflect the company’s moderate level of risk-adjusted capitalisation.

“ART Bermuda’s operating licenses in Bermuda helps facilitate the strategy of ART, particularly with regards to insurance-linked markets (ILM) and reinsurance solutions business lines,” said the rating agency.

It added that ART Bermuda’s management team and operating systems are highly integrated into those of its larger parent, and the company’s activities benefit from a comprehensive financial guarantee from ART.