Rating agency A.M. Best has downgraded the financial strength rating to B+ (very good) from A- (excellent) of Through Transport Mutual Insurance Association (TT Club), Bermuda, and assigned a negative outlook.
The agency said the downgrade "reflects the significant reduction in surplus as a consequence of the reserve strengthening undertaken in 2001 and the impact of this on the Club's financial performance in the short to medium term."
Among its expectations for the club's future, A.M. Best listed a gradual increase in capital and surplus, improving underwriting profitability and the unlikelihood of the need for additional major reserve strengthening exercises.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
