A.M. Best Co. has assigned an initial financial strength rating of A (Excellent) to Converium Insurance (UK) Limited (Converium UK). The rating outlook is stable.
The rating is based on Converium UK's excellent risk-based capitalisation, well established underwriting portfolio and strategic importance to Converium Ltd, Zurich, which currently has a rating of A (Excellent) with a stable outlook. Partially offsetting factors are its limited diversification and expected volatility in its gross underwriting performance.
Converium UK was formed this year to underwrite business for three comp...
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