AM Best Affirms Credit Ratings of Starr International Company, Inc.’s Insurance Subsidiaries
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best affirmed on March 14, 2019 the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the insurance subsidiaries of Starr International Company, Inc. (SICO) (Switzerland), a private investment holding company. These Credit Rating (rating) actions apply to the members of the Starr International Group (SIG) and Starr Insurance & Reinsurance Ltd. (SIRL) rating units and Starr Property & Casualty Insurance (China) Company, Limited (Starr China) (China). The outlook for all ratings is stable.
The ratings of SIG and its members reflect their balance sheet strength, which AM Best categorizes as strongest, as well as their marginal operating performance, favorable business profile and appropriate enterprise risk management (ERM). Members of the SIG rating unit include Starr Indemnity & Liability Company (Texas), Starr Surplus Lines Insurance Company (Texas), Starr Specialty Insurance Company (Texas).
The ratings of SIRL and its members reflect their balance sheet strength, which AM Best categorizes as strongest, as well as their marginal operating performance, favorable business profile and appropriate ERM. Members of the SIRL rating unit include Starr Insurance & Reinsurance Limited (Bermuda), Starr International Insurance (Asia) Limited (Hong Kong), Starr International Insurance (Singapore) Pte. Ltd, Starr International (Europe) Limited (United Kingdom) and Starr Europe Insurance Limited (Malta).
Starr China’s ratings reflect its balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
This press release relates to Credit Ratings that have been published on AM 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 AM 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. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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