LONDON--(BUSINESS WIRE)--A.M. Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A+ (Superior) and the issuer credit ratings of “aa-” for Solen Versicherungen AG (SVAG) (Switzerland) and Noble Assurance Company (Noble) (Texas, USA).
The revision of the rating outlooks to negative reflects the potential for a weakening in the credit profile of Royal Dutch Shell plc (RDS), due in particular to the low oil price environment. RDS is the ultimate parent company of single parent captives SVAG and Noble.
The ratings of SVAG reflect its affiliation with RDS to which it remains important as a risk management tool. A deterioration in RDS’ credit profile will therefore lead to downward pressure on the ratings of SVAG. In addition, the ratings of SVAG reflect its excellent earnings track-record and strong risk-adjusted capitalisation.
The ratings of Noble reflect the strong reinsurance support received from SVAG. Noble is the U.S.-based captive of RDS and cedes 100% of its risks to SVAG through a quota share agreement.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2016 by A.M. Best Rating Services, Inc. ALL RIGHTS RESERVED.