A.M. Best Assigns and Places the Credit Ratings of Alwyn Insurance Company Limited Under Review With Developing Implications

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” to Alwyn Insurance Company Limited (Alwyn) (Gibraltar). Concurrently, A.M. Best has placed these Credit Ratings (ratings) under review with developing implications.

Alwyn, founded in late 2011, is licensed to write auto, property and liability lines of business and will provide capacity to recognized lead insurers, broker groups and managing general agents in the European insurance market. Alwyn is wholly owned by Arch Reinsurance Ltd and is part of Arch Capital Group Ltd. Alwyn will continue to build its business with established counterparties that have proven track records, well-established rates, robust management information systems and superior claims handling abilities. Alwyn will focus initially on writing Western European property/casualty lines of business, including motor, property insurance and general liability. After this initial focus, Alwyn anticipates adding other major lines throughout the European insurance market.

Factors that could result in a rating revision to negative or a rating downgrade include unfavorable operating profitability trends, outsized catastrophe or investment losses relative to peers, significant adverse loss reserve development or a material decline in risk-adjusted capital.

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. For more information, visit www.ambest.com.

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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A.M. Best

Steven M. Chirico, CPA

Director

+1 908 439 2200, 5097

steven.chirico@ambest.com

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Robert B. DeRose
Senior Director

+1 908 439 2200, 5453

robert.derose@ambest.com

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Christopher Sharkey
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+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

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Jim Peavy
Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

Source: A.M. Best