Brit Insurance (BIL) has had its rating raised to A (excellent) by AM Best.

An AM Best spokesperson said: "The raising of the rating reflects the improvement in BIL's risk-based capitalisation, its improved financial performance and its rapidly expanding business."

BIL is one of very few insurance companies to have its rating upgraded in the last year. AM Best acknowledged that it was unusual in the current climate for insurers to have their ratings raised.