AM Best Removes From Under Review With Positive Implications and Upgrades Credit Ratings of Alleghany Corporation and Its Affiliates
AM Best has upgraded the Financial Strength Rating (FSR) of Transatlantic Reinsurance Company and its subsidiaries to A++ (Superior) from A+, and the Long-Term Issuer Credit Ratings (ICR) to aa+ (Superior) from aa-. Similar upgrades were applied to Alleghany Corporation, RSUI Indemnity Company, and CapSpecialty Insurance Group. These upgrades follow Berkshire Hathaway's acquisition of Alleghany in October 2022, reflecting strong balance sheets and operating performance, supported by Berkshire's significant resources. All ratings carry a stable outlook.
- Upgrade of Transatlantic Reinsurance Company's FSR to A++ (Superior) and ICR to aa+ (Superior).
- Alleghany Corporation's ICR upgraded to a+ (Excellent) from a- (Excellent).
- Upgrade of RSUI Indemnity Company's FSR to A++ (Superior) and ICR to aa+ (Superior).
- CapSpecialty's ICR upgraded to a+ (Excellent) from a (Excellent).
- Stable outlook assigned to all ratings.
- None.
Concurrently, AM Best has removed from under review with positive implications and upgraded the FSR to A++ (Superior) from A+ (Superior) and the Long-Term ICRs to “aa+” (Superior) from “aa-” (Superior) of
At the same time, AM Best has removed from under review with positive implications and upgraded the Long-Term ICR to “a+” (Excellent) from “a” (Excellent) and affirmed the FSR of A (Excellent) of
The outlook assigned to these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.)
The ratings of TransRe,
The ratings of TransRe reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favorable business profile, appropriate enterprise risk management (ERM), as well as implicit and explicit support provided by
The ratings of RSUI reflect the group’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate ERM, as well as implicit and explicit support provided by
The ratings of
The FSR has been removed from under review with positive implications and upgraded to A++ (Superior) from A+ (Superior) and the Long-Term ICRs removed from under review with positive implications and upgraded to “aa+” (Superior) from “aa-” (Superior), each with an assigned outlook of stable, for
-
TransRe Europe S.A. -
TransRe London Limited -
Fair American Insurance and Reinsurance Company -
Fair
American Select Insurance Company -
Calpe Insurance Company Limited
The FSR has been removed from under review with positive implications and upgraded to A++ (Superior) from A+ (Superior) and the Long-Term ICRs removed from under review with positive implications and upgraded to “aa+” (Superior) from “aa-” (Superior), each with an assigned outlook of stable, for the following members of
-
RSUI Indemnity Company -
Landmark American Insurance Company -
Covington Specialty Insurance Company
The FSR of A (Excellent) has been removed from under review with positive implications and affirmed, and the Long-Term ICRs removed from under review with positive implication and upgraded to “a+” (Excellent) from “a” (Excellent), each with an assigned outlook of stable, for the following members of
-
Capitol Indemnity Corporation -
Platte River Insurance Company -
Capitol Specialty Insurance Corporation
The following Long-Term IRs have been removed from under review with positive implications, upgraded and assigned stable outlooks:
-- to “a+” (Excellent) from “a-” (Excellent) on
Transatlantic Holdings Inc.—
-- to “a+” (Excellent) from “a-” (Excellent) on
This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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Source: AM Best
FAQ
What recent upgrades were made to Transatlantic Reinsurance Company by AM Best?
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