A.M. Best Affirms Rating of HSB Engineering Insurance Limited.OLDWICK, N.J. -- A.M. Best Co. has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the financial strength rating of A+ (Excellent) of HSB (Hue Saturation Brightness) A color space that is similar to the way an artist mixes colors by adding black and white to pure pigments. The pigments are the hues (H), measured in a circle from 0 to 359 degrees (0=red, 60=yellow, 120=green, 180=cyan, 240=blue, Engineering Insurance Limited (HSBEIL) (United Kingdom). The rating outlook remains stable. A.M. Best regards HSBEIL as a core operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of its parent, The Hartford Steam Boiler Inspection and Insurance Company (HSB) (United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ), operating as the international arm of its parent in the UK, Europe, Australia and Canada (through its subsidiary, Boiler Inspection and Insurance Company of Canada). The rating also reflects HSBEIL's current and prospective financial earnings, which are likely to maintain capitalisation n. 1. same as capitalization. Noun 1. capitalisation - writing in capital letters capitalization writing - letters or symbols that are written or imprinted on a surface to represent the sounds or words of a language; "he turned the paper at the superior level, and is supportive of the company's business plans in 2005. A.M. Best anticipates a continuation of HSBEIL's strong financial performance in 2004 and 2005 with the company likely to produce a combined ratio below 90% in both years, subject to normal loss experience. HSBEIL has a specialist focus on the UK engineering sector where it benefits from a significant level of experience, supported by extensive engineering and equipment related databases which facilitates risk selection and claims management expense control. A.M. Best forecasts growth in gross premium income of approximately 30% between 2003 and 2005 (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 118.7 million in 2003), reflecting development of the company's business in the UK, Europe and Australia. Despite this growth, business diversification is likely to remain limited with the company continuing its specialist focus on engineering equipment property damage and business interruption. For current Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , independent data and analysis on more than 3,000 individual property/casualty companies, groups and industry composites, please visit http://www.ambest.com/pc. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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