A.M. Best Affirms Ratings of The Hartford Steam Boiler Group’s Members
The ratings recognize HSB’s distinctive niche business profile, excellent risk-adjusted capitalization, strong underwriting performance and reserving history. HSB is a leading provider of equipment breakdown (boiler and machinery), specialty engineering insurance and machinery inspection services, and it continues to maintain this position with superior loss control capacity, technical expertise and a unique industry database.
The rating affirmations also reflect the group’s synergies with
HSB management has been very successful in managing through underwriting cycles and has the expertise and resources required to take advantage of existing and new underwriting opportunities. Although growth opportunities in HSB’s core domestic equipment breakdown markets are moderate, the group is growing its expertise and expanding its product offerings to include coverages for new technologies, cyber risk and data privacy, the energy market, personal lines products and specialty liability coverages.
The FSR of A++ (Superior) and the ICRs of “aa+” have been affirmed for the following members of
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The Hartford Steam Boiler Inspection and Insurance Company -
The Hartford Steam Boiler Inspection and Insurance Company of Connecticut -
The Boiler Inspection and Insurance Company ofCanada -
HSB Specialty Insurance Company -
HSB Engineering Insurance Limited
This press release relates to rating(s) 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.
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