A.M. Best Assigns Financial Strength and Issuer Credit Ratings to Quanta Europe Ltd.OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of "a-" to Quanta quan·ta n. Plural of quantum. Europe Ltd. (Quanta Europe) (Dublin, Ireland). The outlook on both ratings is stable. The ratings reflect Quanta Europe's importance to Quanta Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Ltd. (Quanta Re) (Bermuda), and its excellent risk-adjusted capitalisation. An offsetting factor is Quanta Europe's limited business profile. Quanta Europe's capitalisation is supported by a quota share For This article is about quota shares (shares of the quota). For other usages of quota, see, see . A quota share is a specified number or percentage of the allotment as a whole (quota), that is prescribed to each individual entity (see Non-tariff barriers to trade). reinsurance agreement and an unconditional guarantee of its liabilities, both provided by Quanta Re., an affiliate and the main operating company operating company A business that engages in transactions with outsiders. of the group. Quanta Europe is expected to focus on specialty insurance products, mainly crime & fidelity (financial institutions), professional liability and environmental insurance. A.M. Best forecasts Quanta Europe's gross written premiums to exceed EUR EUR In currencies, this is the abbreviation for the Euro. 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. 37.5 million (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. 50 million) in 2005, its first full year of operations. Technical result is expected to reach approximately EUR 355 thousand (USD 475 thousand) with an excellent combined ratio of approximately 80%. A.M. Best believes that while the co-operation with other Quanta subsidiaries will enable Quanta Europe to grow relatively quickly, Quanta Europe may still face challenges in establishing its presence on a stand alone basis. For a list of A.M. Best's debt ratings, please visit http://www.ambest.com/debt. For current Best's Ratings, independent data and analysis on more than 470 reinsurance companies, please visit http://www.ambest.com/reinsurance/. 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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