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A.M. Best Assigns Initial Group Rating of "A" (Excellent) to Commercial Risk Reinsurance Co. Ltd. and Commercial Risk Re-Insurance Co.

OLDWICK, N.J., Nov. 25 /PRNewswire/ -- Effective immediately, A.M. Best Co. has assigned a group rating of "A" (Excellent) to Commercial Risk Reinsurance Co. Ltd. and Commercial Risk Re-Insurance Co. (the "group"). The group rating is based on the companies' affiliated marketing, technical and underwriting strategies in providing alternative risk management solutions to the global marketplace. The rating reflects the company's strong capitalization, tightly controlled exposure management, geographically diversified book of business, good operating earnings, capital growth and affiliation with SCOR, a leading reinsurer rated A+ (Excellent).

The group's operations are based in Bermuda and Vermont, with the business developed through direct markets and brokers. The group's strategy is to provide innovative specialty and finite capacity to key business partners, primary insurers and commercial and industrial insureds. The group's competitive advantages include its experienced management team, technical modeling techniques and synergistic relationship with affiliated companies.

In addition, to the positive underwriting results, the group maintained its financial flexibility and realized exceptional results, with earnings increasing by 67%, net investment income increasing by 49.7%, assets increasing by 34.9%, and shareholders' equity increasing by 46%.

A. M. Best views the underwriting and risk control procedures followed by management to maintain solvency and capital as additional factors on which the evaluation was based. Exposure and investment strategies are designed to provide long-term solutions and provide clients with costs that bear an economic relationship to loss experience. The investment portfolio is maintained with appropriate liquidity to meet cash requirements imposed on the company.

The rating outlook further reflects the companies' excellent financial posture, competitive advantages, development of innovative products, marketing relationships with affiliates, experienced management team, and their focus on being a provider of specialty products. A. M. Best views the group's outlook as stable and believes it is well positioned to continue to be a lead provider of alternative risk management capacity to the global marketplace.

A.M. Best Company, established in 1899, is America's oldest and most widely recognized insurance rating and information source.

SOURCE A.M. Best Company
 -0- 11/25/96

/CONTACT: Gary Ketchum of A.M. Best, 908-439-2200, ext. 5197/

CO: Commercial Risk Reinsurance Co. Ltd; Commercial Risk Re-Insurance Co. ST: IN: INS SU: RTG

MP -- NYM095 -- 3694 11/25/96 11:38 EST
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Title Annotation:The "Group"
Publication:PR Newswire
Date:Nov 25, 1996
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