LONDON--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aa+” of HSB Engineering Insurance Limited (HSBEIL) (United Kingdom). The outlook of these Credit Ratings (ratings) remains stable.
The ratings reflect HSBEIL’s strategic importance to its parent, The Hartford Steam Boiler Inspection and Insurance Company, a member of The Hartford Steam Boiler Group (HSB group), as its principal source of international diversification. Furthermore, HSBEIL is material to the business profile of HSB group, is fully integrated into the group’s operations and management, has a track record of supporting the group’s strategy and is clearly identifiable with the group. HSBEIL underwrites niche engineering risks in the U.K. and overseas, including equipment breakdown, property damage, cyber and energy insurance.
The ratings of HSB group reflect its balance sheet strength, which A.M. Best categorises as strongest, as well as its very strong operating performance, very favorable business profile and very strong enterprise risk management.
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