A.M. Best Comments on Brit Insurance Limited and Brit Insurance Holdings PLC.OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Brit Insurance Limited (BIL BIL Brother-In-Law BIL Billion BIL Bilateral BIL Band Interleaved by Line BIL Basic Impulse Level (electrical power switches) BIL Basic Insulation Level (IEC) ) (United Kingdom), Brit Insurance Holdings PLC (BIH BiH Bosnia and Herzegovina BIH Black Infant Health BIH Bureau International de l'Heure (International Time Bureau) BIH Benign Intracranial Hypertension BiH Bosnia i Herzegovina (ISO country code) ) (United Kingdom) and BIH's debt issues remain unchanged following BIH's announcement that it has signed contracts for the launch of a specialist Bermuda-based 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. company, Norton Re, which will write fully collateralised catastrophe retrocession RETROCESSION, civil law. When the assignee of heritable rights conveys his rights back to the cedent, it is called a retrocession. Erskine, Prin. B. 3, t. 5, n. 1; Dict. do Jur. h.t. business. Using BIL's retrocessional team operating from Bermuda, Norton Re will participate on treaties incepting from 1 January 2007. BIL has subscribed 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. 21.1 million, giving it an overall interest of 19.6% in Norton Re via a holding company structure. A.M. Best treats this additional risk as an investment in its analysis and, as such, the size of the investment does not materially impact upon the ratings of BIL or its holding company parent, BIH. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. 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 www.ambest.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion