Amlin Bermuda Limited Achieves 'A' Rating
From Standard & Poor's
22 December 2005
Amlin plc today confirmed that its new Bermuda reinsurance operation
has been assigned 'A' counterparty credit and insurer financial strength
ratings (IFRS) by Standard & Poor's, both with a stable outlook.
The rating rationale noted Amlin's "strong and improving competitive
position, its track record of strong earnings and its superior operational
management" in explaining that the ratings criteria S&P "would ordinarily
apply to a start-up is not relevant in this case."
The rating agency also assigned its interactive Lloyd's Syndicate
Assessment of '4' to Amlin Syndicate 2001, also with a stable outlook.
Major assessment factors included the Syndicate's "strong competitive
position as the largest, and one of the most highly respected, at
Lloyd's" and the fact that it has "consistently outperformed the Market
in each of the five most recent years of account."
Richard Hextall, Finance Director, commented; "We are pleased that
Standard & Poor's have considered the overall strength of the Amlin
Group in reaching these rating assessments. We believe that leveraging
the Group's profile and processes will prove a strong differentiator
for Amlin Bermuda and its ability to deliver on our strategy for growing
our international business."
