CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK - OCTOBER 22, 2015 02:53 PM (EDT)
A.M. Best has commented that the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” of Hamilton Re, Ltd. (Hamilton Re) (Bermuda), Hamilton Specialty Insurance Company (HSIC) (Wilmington, DE) and Hamilton Insurance Company (HIC) (Wilmington, DE) remain unchanged following the resignation of HSIC and HIC’s CEO.
A.M. Best expects the companies’ business plan implementation to continue inforce as it was presented during the initial rating assignment. It is further expected that the companies will continue to receive support from their ultimate parent, Hamilton Insurance Group, Ltd. (Hamilton Group).
HSIC and HIC operate as U.S.-domiciled primary insurers writing a combination of small and middle market business casualty and specialty insurance primarily through agents and wholesale channels. The companies follow stringent underwriting and risk management guidelines, as does their affiliate, Hamilton Re.
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.