A.M. Best Affirms Credit Ratings of European Mutual Association for Nuclear Insurance
The ratings reflect Emani’s balance sheet strength, which
The mutual’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), taking into account the mutual’s ability to make supplementary capital calls to its members. In the unlikely event of a full limit loss, there would be a material depletion of capital due to the large gross and net line size offered by Emani to its members relative to its capital base. However, the contractual right to call retrospective premium for six times each member’s annualised premium contribution would enable the mutual to restore its capital strength. Strong underwriting guidelines and extensive loss control management, as well as high risk management standards within the nuclear energy industry, moderate risk exposure.
Emani has a track record of strong technical performance, demonstrated by combined ratios ranging from 3% to 64% during the past five years (2013-2017). Prospective performance remains subject to volatility as the mutual’s claims profile is dominated by an infrequent number of low to mid-size losses.
Emani has a leading market position in the nuclear energy sector, writing the property cover of nuclear facilities across
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
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