Starr Chile Assigned A Rating from AM Best

SANTIAGO, Chile & NEW YORK--(BUSINESS WIRE)--Starr, a global insurance and investment organization, today announced that the global credit rating agency AM Best has assigned Starr International Seguros Generales S.A. (Starr Chile) a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ (Excellent). The outlook for both credit ratings is positive.

The rating reflects Starr’s strong balance sheet and Starr Chile’s successful implementation of Starr’s business model. AM Best also cited Starr’s operating performance, a favorable business profile and enterprise risk management as key factors supporting the positive rating.

“This strong rating is another important endorsement of Starr’s business model as we continue to build our presence in Latin America,” said Jeff Greenberg, chairman and co-CEO of Starr. “It reflects the financial strength, underwriting discipline and experienced teams that underpin our business around the world, reinforcing the confidence brokers and clients can place in Starr.”

Starr Chile was established in Santiago in 2016 and provides property and casualty insurance to large industrial and commercial clients in Chile, including technical lines, financial lines, marine and casualty.

AM Best assessed Starr Chile’s risk-adjusted capitalization at the strongest level, noting that the company has delivered profitable results since its creation and reinvested profits to support the growth of its capital base.

José Ribeiro, president for LATAM & APAC at Starr, added: “Chile is an important growth market for Starr, and this rating marks a significant milestone for our operations in the region. It recognizes the strength of Starr’s balance sheet; the expertise of our local team backed by Starr’s global capabilities and further strengthens our ability to support brokers and clients with meaningful capacity and specialist underwriting expertise.”

Starr operates a diversified global specialty insurance platform with underwriting operations across the United States, London market, Bermuda, Europe, Asia and Latin America, serving clients and brokers across multiple territories and lines of business.

About Starr

Starr is the marketing name for the investment business of C. V. Starr & Co., Inc. and the insurance, reinsurance and travel assistance companies of Starr International Company, Inc., and their subsidiaries. Starr is a leading global investment, insurance and reinsurance organization with a presence on six continents. Through its operating (re)insurance companies, Starr provides property, casualty, and accident and health insurance products, as well as a range of specialty coverages, including aviation, marine, energy, and excess casualty insurance and underwrites reinsurance products from London and Bermuda. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Malta, Singapore, Switzerland, and U.K. each have an AM Best rating of “A” (Excellent). Starr’s Lloyd’s syndicates benefit from Lloyd’s Standard & Poor’s rating of “AA-” (Very Strong).