AM Best has awarded Hiscox Insurance Company (Hiscox Bermuda) a financial strength rating of A- (excellent) with a stable outlook.
AM Best also affirmed the A- (excellent) rating for the Hiscox Insurance Company and awarded Hiscox Syndicate 33 at Lloyd's an A (excellent) syndicate rating.
The ratings agency said the rating was granted on the strength of Hiscox Bermuda's ‘excellent' capitalisation and 'excellent prospective underwriting results' and the ‘Hiscox group's strong business profile'.
Bronek Masojada, chief executive of Hiscox, said: "We set out to achieve an A- (excellent) rating for Bermuda and I am pleased we have been able to do this in less than two months. We can now take full advantage of the renewal season.
"Our Bermuda business complements the work we are doing in the insurance company and at Lloyd's, and the ratings reflect this."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
