A.M. Best Co. has assigned a financial strength rating of"A-minus (Excellent)" and an issuer credit rating of "a-minus" tonewly capitalized Bermuda insurer Hiscox Insurance Company(Bermuda) Limited.
The Oldwick, N.J.-based rating service said the ratings reflectthe company's excellent initial risk-adjusted capitalization,excellent prospective underwriting results and the Hiscox group'sstrong business profile for the classes of business Hiscox Bermudawill write.
However, the company may face exposure to strong competitionfrom a number of other Bermuda start-up insurers.
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