The London-based arm of international insurance ratings company AM Best Co has celebrated its parent group's 100th birthday by extending its coverage of the UK insurance market, writes Mike Cooper.

More than 150 guests from the London insurance market attended a birthday party held at the London Underwriting Centre.

The event coincided with the launch by AM Best International of its UK Insurance Security Analysis Service which provides comprehensive ratings on 130 life and 130 non-life insurers.

The package comprises quantitative analysis under three headings: financial strength, operating performance and market profile and qualitative information. Some of the analysis is based on supplemental information provided by insurers themselves.

The ratings information is AM Best International's response to increasing requests from brokers, risk managers and independent financial advisers for information on the financial strength and stability of insurers.

AM Best Co is thought to be the world's oldest insurance rating company.