A.M. Best Upgrades Credit Ratings of FAIR Oil & Energy Insurance Syndicate
The ratings reflect FOEIS’ balance sheet strength, which
FOEIS is one of four reinsurance vehicles formed by the
FOEIS’ balance sheet strength is driven by the strongest level of risk-adjusted capitalisation, supported by a conservative investment portfolio and prudent reserving. Risk-adjusted capitalisation strengthened considerably in 2016 and 2017, owing to a change in capital strategy. In
FOEIS’ reported net profits for 2016 amounted to
Although limited in size, FOEIS benefits from a defendable niche business profile. Members provide the syndicate with good access to energy risks across the Afro-Asian territories, supplemented by business written through the open market across the region. Whilst the syndicate is heavily concentrated by line of business, FOEIS benefits from diversification through the geographical spread of its business.
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
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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