Rating agency AM Best has raised the financial strength rating to A (excellent) from A- (excellent) of Brit Insurance Limited (BIL). The outlook is stable.

The change reflects the improvement in B ...

Rating agency AM Best has raised the financial strength rating to A (excellent) from A- (Excellent) of Brit Insurance Limited (BIL). The outlook is stable.

The change reflects the improvement in BIL's risk-based capitalisation, improved and excellent prospective financial performance and its rapidly expanding business position, said AM Best.

The rating agency expects Brit to remain committed to maintaining an excellent level of capitalisation as measured on a risk-based adjusted basis despite ambitious growth plans.

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