This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

A.M. Best Affirms Ratings Of Endurance Specialty Holdings, Ltd And Its Subsidiaries

Stocks in this article: ENH

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Endurance Specialty Insurance Ltd. (Endurance) and its affiliates. Concurrently, A.M. Best has affirmed the ICR of “bbb” and debt ratings of the publicly traded parent, Endurance Specialty Holdings, Ltd [NYSE: ENH]. The outlook for all ratings is stable. The above companies are domiciled in Bermuda. (See below for a detailed list of the companies and ratings.)

The ratings reflect Endurance’s strong level of risk-adjusted capitalization, solid historical operating performance over the last few years and its specialty focused, diversified business profile. Over the last few years, Endurance has repositioned its book of business by reducing reinsurance premiums, reducing its exposure to workers’ compensation business and targeting agriculture insurance. A substantial portion of Endurance’s current specialty portfolio is agriculture insurance, which is not linked to the property/casualty pricing cycle. In addition, the ratings reflect the group’s solid enterprise risk management framework that has been continually enhanced in recent years, which should help support the organization’s balanced risk taking and limit outsized losses.

Partially offsetting these positive rating factors is Endurance’s exposure to large severe events and the potential for events in excess of modeled expectations. In addition, Endurance, as well as the market, is challenged with managing this soft stage of the underwriting cycle and uneasy financial markets.

The outlook reflects A.M. Best’s expectation that operating performance and risk-adjusted capitalization will continue to support the ratings at the current level, given Endurance’s business strategy and solid risk management framework.

The FSR of A (Excellent) and ICRs of “a” have been affirmed for Endurance Specialty Insurance Ltd and its following affiliates:

  • Endurance Reinsurance Corporation of America
  • Endurance Worldwide Insurance Limited
  • Endurance American Specialty Insurance Company
  • Endurance American Insurance Company
  • Endurance Risk Solutions Assurance Company
  • American Agri-Business Insurance Company

The following debt ratings have been affirmed:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs