Ratings Roundup: White Mountains, Delvag

A.M. Best Co. commented that the financial strength (FSR) and issuer credit ratings (ICR) of White Mountains Insurance Group, Ltd. and its principal operating units are unchanged following the recently announced exchange agreement with Berkshire Hathaway Inc. ((See IJ web site March10)

Standard & Poor’s Ratings Services said that its ratings on White Mountains Insurance Group will not be affected by the announcement that it has signed an exchange agreement with Berkshire Hathaway Inc.

A.M. Best Co. has upgraded the issuer credit rating to “bbb+” from “bbb” of Germany’s Delvag Luftfahrtversicherungs-AG and Delvag Rueckversicherungs-AG (Delvag Rueck) Best also affirmed the financial strength rating of ‘B++’ (Good) for both companies.The outlook for all ratings is stable. “The rating actions reflect Delvag’s consistently excellent operating performance and improved risk-adjusted capitalization.” The ratings also factor in Delvag’s role as the composite insurance captive of its ultimate parent, Lufthansa German Airlines.