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FOR IMMEDIATE RELEASE
OLDWICK - MAY 10, 2018 10:12 AM (EDT)
A.M. Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” of Energy Insurance Mutual Limited (EIM) (Bridgetown, Barbados). The outlook of the FSR remains stable.
The Credit Ratings (ratings) reflect EIM’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The positive Long-Term ICR outlook reflects positive overall favorable operating performance, which A.M. Best expects to continue to enhance EIM’s already solid balance sheet strength, despite the volatile nature of the business it writes. These positive rating factors are derived from EIM’s specialized expertise in providing insurance and risk management information and services to its members from the energy utility sector, as well as its ability to generate business opportunities through its niche market strategy. As a result of its strategy, EIM has strong member retention. The company remains committed to growth in capital and surplus, a well-diversified investment portfolio, and a focus on the long-term stability of the organization for its members.
A.M. Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.
This press release relates to Credit Ratings 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 see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.