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FOR IMMEDIATE RELEASE
OLDWICK - MARCH 19, 2020 01:26 PM (EDT)
AM Best has affirmed 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 rating units Starr International Group (SIG) and Starr Insurance & Reinsurance Limited (SIRL), which now includes Starr Property & Casualty Insurance (China) Company, Limited (Starr China) (China). The outlook of these 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) and 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, in addition to Starr China, 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).
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 Guide to 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.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.