A.M. Best A++ (Superior) Financial Strength Rating
The A.M. Best Company upgraded the financial strength rating of The Hartford Steam Boiler Group (HSB) and its members to A++ (Superior) from A+ (Superior) and its issuer credit ratings (ICR) to “aa+” from “aa-” on October 12, 2011. All ratings were assigned a stable outlook.
In its press release A.M. Best said, "HSB’s rating upgrades places it in line with its stand alone ratings and recognizes the benefits derived from synergies with its ultimate parent, Munich Reinsurance Company (Munich Re). HSB’s relationship with Munich Re has provided access to new markets in continental Europe and refocused the U.S. business on HSB’s core equipment breakdown coverage. Furthermore, HSB’s already robust enterprise risk management (ERM) practices will receive additional benefits from Munich Re’s extensive ERM resources."
A.M. Best Company financial strength rating of A++ (Superior) applies to the following HSB member companies:
- The Hartford Steam Boiler Inspection and Insurance Company
- The Boiler Inspection and Insurance Company of Canada
- The Hartford Steam Boiler Inspection and Insurance Company of Connecticut
- HSB Engineering Insurance Limited
Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For the latest rating, access www.ambest.com.