A.M. Best Co. has affirmed the financial strength rating of A (excellent) and the issuer credit rating (ICR) of “a” on the European unit of Greenwich insurer W.R. Berkley Corp.
The outlook on both ratings for W.R. Berkley Insurance (Europe) Ltd. remains stable, the rating service said today.
A.M. Best expects WRB Europe to maintain strong stand-alone risk-adjusted capitalization in 2009, supported by the full retention of earnings.
This week, W.R. Berkley Corp. reported a 21 percent rise in second-quarter profits from stabilized underwriting and improved investments.
