A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a+” of Allied World Assurance Company, Ltd (Allied World) and its operating affiliates. The outlook for all ratings is stable.
Concurrently, A.M. Best has affirmed the ICRs of “bbb+” of the ultimate parent, Allied World Assurance Company Holdings, AG (AWH) (Switzerland) [NYSE: AWH], and its downstream holding company Allied World Assurance Company Holdings, Ltd (Allied World Holdings Bermuda).
A.M. Best also has affirmed the issue ratings of “bbb+” of Allied World Holdings Bermuda. The outlook for these ratings is stable. All the above companies are domiciled in Bermuda unless otherwise specified.
The ratings reflect Allied World’s diversified business mix that emphasizes primary/casualty lines, excellent risk-adjusted capitalization, experienced management team and comprehensive enterprise risk management framework. The ratings also reflect the company’s strong operating performance over the recent five-year period, proven risk management culture and successful track record of expansion in terms of geography, products and distribution. Allied World is well-positioned to execute its business plans.
Partially offsetting these positive rating factors is Allied World’s primary casualty orientation, as pricing for this segment of business is cyclical and currently very competitive.