Standard and Poor's has affirmed the financial strength ratings of Bermuda-based insurer and reinsurer Omnium.
The ratings agency affirmed the 'AA' stable the reinsurance affiliate of French oil company TotalFinaElf earlier today.
S&P credit analysist Peter Grant said Omnium's rating was influenced by the financial flexibility rating of its parent. The rating also reflected Omnium's operating performance, he said
Looking to the future, S&P noted that its risk adjusted capital adequacy is expected to remain strong.
It said the increase will be driven by an expected combined ratio expected of below 60%.
