Standard & Poor's Ratings Services has assigned its 'A-' long-term counterparty credit and insurer financial strength ratings to the core US and UK subsidiaries of Catlin Group.
The outlook on both entities is stable.
Standard & Poor's credit analyst Mark Coleman, said: "The ratings reflect the competitive advantage that is expected to emerge from the group's diversified business franchise and risk profile relative to many of its Lloyd's and Bermudan peers.
S&P's said the ratings also reflect Catlin's above-average long-term earnings and strong capitalization.
However, it warned that these strengths are offset by Catlin's earnings volatility; still high dependence on the Lloyd's Market (A/Stable) for business; and proposed expansion into the U.S. admitted market, where it is yet to establish a strong track record.
