Best’s News & Research Service - October 28, 2016 07:59 AM (EDT)
A.M. Best Assigns Credit Ratings to N.V. Nationale Borg-Maatschappij and Nationale Borg Reinsurance N.V.
- October 28, 2016 07:59 AM (EDT)
Oldwick //BestWire// - A.M. Best has assigned a Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” to N.V. Nationale Borg-Maatschappij (NBM) (Amsterdam, Netherlands) and its subsidiary, Nationale Borg Reinsurance N.V. (NB Re) (Willemstad, Curacao). The companies are subsidiaries of AmTrust Financial Services, Inc. (AFSI) [NASDAQ:AFSI]. The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect the companies’ participation in significant quota-share reinsurance arrangements with their affiliate, AmTrust International Insurance, Ltd. (AII) and other implicit support the companies will receive as a result of their position within the AFSI enterprise. NBM, NB Re and AII are members of the AmTrust Group rating unit. The ratings of NBM and NB Re also reflect the companies’ supportive levels of risk-adjusted capitalization, and their historically profitable underwriting and operating performance. While NBM has a niche position in the Dutch and Belgian surety markets, and NB Re is a recognized provider of reinsurance solutions for insurers in the global surety, trade credit and political risk lines, the companies’ relatively modest business profile is an offsetting factor considered in the ratings.
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.
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