A.M. Best Assigns Ratings to Harbor Point Reinsurance U.S. Inc.OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A (Excellent) and issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a" to Harbor Point Built in 1972, Harbor Point Condominiums is a residential and commercial building in Chicago, Illinois on Lake Michigan. The building has views of both Grant and Millennium Parks and sits on Chicago's Monroe Harbor. 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. U.S., Inc. (HPRUS) (Greenwich, CT). The outlook for both ratings is stable. HPRUS is a recently acquired member of Harbor Point Re Limited (Harbor Point) (Hamilton, Bermuda) and will provide reinsurance for casualty, property, marine and aviation and other specialty lines of business. Harbor Point and its subsidiaries provide direct reinsurance and operational support to HPRUS. A.M. Best expects HPRUS to perform in line with projections and maintain risk-based capitalization within required levels. For 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. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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