View this article online: https://www.claimsjournal.com/news/international/2005/11/02/61522.htm
A.M. Best Co. has upgraded the public data rating to A- (Excellent) from B+ (Very Good) of Liberty Mutual Insurance Europe Limited (LMIEL) (United Kingdom).
Public data (pd) ratings reflect a quantitative analysis of a company’s results based on publicly available financial information. A.M. Best’s pd ratings do not include analysis based on interaction with insurance company management or non-public financial information.
The rating of LMIEL has been upgraded to reflect explicit support from Liberty Mutual Insurance Company (Massachusetts) in the form of a public guarantee of payment in respect of policyholder liabilities.
In addition, the rating reflects LMIEL’s very good risk-adjusted capitalization and the improvement in its combined ratio in recent years (reduced from 105.8% in 2003 to 100.3% in 2004), although it has been reliant upon investment income to offset underwriting losses. The company’s business portfolio is well-diversified by business class including marine, aviation, property, third party liability and reinsurance business.
LMIEL’s gross written premium income increased by 22.4% at year-end 2004 to USD 734 million, derived from its offices in the United Kingdom, Germany, Ireland, France, Switzerland and Singapore.