Credit ratings agency AM Best has upgraded the Financial Strength Rating of Hamilton Select Insurance, Inc., the US excess and surplus (E&S) lines underwriting platform of Bermuda-based insurer and reinsurer, Hamilton Insurance Group Ltd., to “A” (Excellent), with a stable outlook.
AM Best explained that this ratings upgrade is primarily driven by Hamilton Select Insurance’s recent enhancements of the explicit support provided by Hamilton, and also reflects its strategic importance to the Group.
The upgraded rating supports the continued development of Hamilton Select as a core US E&S underwriting platform within Hamilton, and aligns with the company’s long-term strategy of building a diversified, global specialty insurance and reinsurance company.
Pina Albo, Chief Executive Officer, Hamilton, commented, “We are extremely pleased with the ratings upgrade for Hamilton Select. Receiving an ‘A’ rating from AM Best underscores the progress we have made in building Hamilton Select as a valued pillar of Hamilton’s overall strategy.
“The upgraded rating enhances our ability to continue growing our US specialty insurance business profitably and to deliver greater value to our broker partners and clients.”
