AM Best – the global credit rating agency that evaluates the financial strength and creditworthiness of insurance companies – has released the full report detailing the 2016 review of Nuclear Electric Insurance Limited (NEIL). As announced in July, AM Best reaffirmed NEIL’s Financial Strength Rating (FSR) of “A” Excellent and its Issuer Credit Rating (ICR) of “a+”, but also revised the ICR outlook to stable from negative. The outlook for the FSR remains stable.
The full detailed commentary is now available and attached, including discussions surrounding the key elements published by AM Best – the FSR is an opinion of an insurer's ability to meet obligations to policyholders, while the ICR is an opinion of an insurer’s ability to meet its senior obligations.
Outlook discussions for both ratings provided valuable insights both against past performance and for future planning. The rating committee recognized NEIL’s enterprise risk management culture, comprehensive loss prevention programs, conservative operating strategy, and capital management philosophy. The ICR outlook revision validates NEIL’s management approach to evolving risk exposures while maintaining a strong overall financial position.
You can find the AM Best Report here
For reference, you can find the AM Best news release from July 2016 here