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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - MAY 20, 2008 12:00 AM (EDT)
A.M. Best Co. has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and issuer credit rating to "a-" from "bbb" of AHS Insurance Company Ltd. (AHS) (Grand Cayman, Cayman Islands). The outlook for both ratings is stable.
The ratings reflect AHS' good capitalization, experienced management team and sound underwriting and risk management programs. Partially offsetting these positive rating factors is AHS' limited business scope. Additional factors considered in these ratings include the explicit support of the captive's parent, Atlantic Health System, Inc. and the strategic importance of AHS to the parent.
AHS' strong risk management program uses a proactive approach for identifying, minimizing and managing claims. The program's effectiveness is continuously monitored and adjustments are made when necessary. The ratings also consider the important role AHS serves in providing professional and general liability insurance to Atlantic Health System, Inc.
A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world.
For current Best's Ratings and independent data on the captive and alternative insurance market, please visit Best's Captive Center.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.