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HAMILTON, Bermuda--A.M. Best Co. Inc. has boosted its financial strength rating for Arch Reinsurance Ltd. and its affiliates to A from A-.
In a statement, Best said the upgrade reflects "excellent capitalization, strong operating performance since its inception and robust risk management" on behalf of Arch Re, a unit of Hamilton, Bermuda-based Arch Capital Group Ltd.
"The company's proven risk management capability has enabled recent and historical operating performance to be among the leaders in the Bermuda market as evidenced by a 2005 combined ratio of 95.8%, despite net catastrophe losses totaling approximately $330 million for the year," Oldwick, N.J.-based Best said.
The upgrade extends to the following Arch units: Arch Reinsurance Co.; Arch Insurance Co.; Arch Specialty Insurance Co.; and Arch Excess & Surplus Insurance Co.