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FOR IMMEDIATE RELEASE
OLDWICK - JULY 20, 2018 03:26 PM (EDT)
A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” to Clearwater Select Insurance Company (Clearwater Select) (Stamford, CT). The outlook assigned to these Credit Ratings (ratings) is stable. Clearwater Select is a newly added member of the Odyssey Re Holdings Corp., (Odyssey) rating unit and is a wholly owned subsidiary of Odyssey. The ratings of the other members of the group are not affected by Clearwater Select’s rating assignment.
Clearwater Select has been made a member of the Odyssey rating unit due to its strategic importance to the group. The company provides rate flexibility, allowing the group to expand its specialty focus into standard commercial risks. Clearwater Select also provides internal reinsurance for its affiliates, and shares common management and operational capabilities.
The Odyssey group ratings reflect its balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
This press release relates to Credit Ratings 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 see A.M. 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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
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