News :: June 19, 2012
AM Best reaffirms AEGIS rating; upgrades outlook from 'stable' to 'positive' and reaffirms AEGIS London rating
We are pleased to report that AM Best has just reaffirmed our "A- (Excellent)" financial strength rating and revised its outlook for AEGIS from 'stable' to 'positive'.
In their recent annual assessment of our results, our rating analysts noted the significant surplus growth and improved operating performance we've achieved in the three years since the significant loss of surplus in 2008 that resulted from higher than normal underwriting volatility and the poor investment results associated with the worldwide financial crisis. The improvement from 'stable' to 'positive' also suggests that AM Best may consider positive action relative to our A- rating if the company continues to demonstrate strong underwriting fundamentals, continued improvement in our risk-adjusted capitalization, continued sustainable and stable investment results, and favorable loss development trends. We appreciate AM Best's acknowledgement of our significant progress and we are confident we can maintain this momentum with your ongoing support.
In addition, AM Best reaffirmed the "A (Excellent)" financial strength rating with a stable outlook for AEGIS London. Our analysts noted the financial strength of both AEGIS and the Lloyd's market, as well as the Syndicate's diversified book of business, as factors that supported their reaffirmation. Read the full AM Best press releases.