Recent Ratings Recap: Arab Orient; Strike Club

A.M. Best Co. has affirmed the financial strength rating of “B+” (Good) and the issuer credit rating of “bbb-” of Jordan’s Arab Orient Insurance Company with a stable outlook. The ratings reflect the company’s improved risk-adjusted capitalization, leading business position in its domestic market and very good operating performance,” said Best.

Standard & Poor’s Ratings Services said today it assigned its ‘BBB+’ long-term counterparty credit and insurer financial strength ratings to Bermuda-based marine insurer The Shipowners’ Mutual Strike Reinsurance Association (Bermuda) Ltd. with a stable outlook. S&P noted: “The ratings reflect the company’s core status within the economic grouping collectively known as The Strike Club (the club), of which the principal operating entities include its sister direct underwriting companies, The Shipowners’ Mutual Strike Insurance Association (Bermuda) Ltd. and The Shipowners’ Mutual Strike Insurance Association Europe.” They’re also based on the Mutual’s “very strong financial flexibility, strong capitalization, and market leadership in the niche of strike and delay insurance,” explained S&P credit analyst Peter McClean.