A.M. Best Assigns Ratings to Queen’s Island Insurance Company, Ltd.

A.M. Best Assigns Ratings to Queen’s Island Insurance Company, Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned a financial strength rating of A+ (Superior) and issuer credit rating of “aa-” to Queen’s Island Insurance Company, Ltd. (Queen’s Island) (Hamilton, Bermuda). The outlook assigned to both ratings is stable.

The ratings largely reflect the explicit support provided to Queen’s Island by an affiliate, Berkley Insurance Company (Wilmington, DE), in the form of an aggregate stop loss reinsurance contract, which limits any single calendar year operating loss, and a net worth maintenance agreement with its parent, W.R. Berkley Corporation (WRB) (Greenwich, CT) [NYSE: WRB].

Queen’s Island is registered as a Class 3A insurer by the Bermuda Monetary Authority in accordance with the Bermuda Insurance Act of 1978. The company writes excess transportation liability coverage for a selection of WRB clients and punitive damages wrap policies for directors’ and officers’ liability insurance.

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors, which may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

A.M. Best Company

Analysts

David S. Blades, CPCU, 908-439-2200, ext. 5422

[email protected]

or

Joseph M. Roethel, 908-439-2200, ext. 5630

[email protected]

or

Public Relations

Jim Peavy, 908-439-2200, ext. 5644

[email protected]

or

Rachelle Morrow, 908-439-2200, ext. 5378

[email protected]

Source: A.M. Best Company

Copyright Business Wire 2009 A.M. Best Co. has assigned a financial strength rating of A+ and issuer credit rating of "aa-" to Queen's Island Insurance Company, Ltd.. The outlook assigned to both ratings is stable.