OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of the members of The Hartford Steam Boiler Group (HSB). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies.)
HSB’s ratings reflect the group’s balance sheet strength, which AM Best assesses as strongest, as well as its very strong operating performance, favorable business profile and very strong enterprise risk management. The group has a long track record of favorable operating profits. HSB consistently maintains risk-adjusted capitalization that is consistent with the group’s overall strongest balance sheet assessment, as measured by Best’s Capital Adequacy Ratio (BCAR). HSB’s very strong operating performance assessment is supported by consistently excellent profitability metrics, which have outperformed the commercial property composite by a wide margin for a prolonged period of time. The very strong overall operating performance is primarily driven by superior underwriting returns and enhanced by a steady stream…
