Best’s News & Research Service - August 12, 2015 01:58 PM (EDT)
A.M. Best Assigns Ratings to Global Hawk Property & Casualty Insurance Company
Oldwick //BestWire// - A.M. Best has assigned a financial strength rating of B++ (Good) and an issuer credit rating of "bbb" to Global Hawk Property & Casualty Insurance Company (Global Hawk) (Wilmington, DE). The outlook assigned to both ratings is stable.
The ratings reflect Global Hawk's excellent level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR); the experience of the management team and its targeted business plan. Partially offsetting these positive rating factors are the significant challenges and uncertainties associated with a newly formed start-up company, including the successful execution of its business plan and the ability to grow its business profitably.
The ratings could be impacted negatively if operating performance or risk-adjusted capitalization falls markedly short of the level anticipated in the business plan submitted to A.M. Best. Positive changes in the rating are not expected over the near to midterm.
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.
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