Omnium rated AA-
Omnium Insurance and Reinsurance, , has been rated as AA-, the same rating given to its parent company, French oil and gas firm Total S.A.
The wholly owned, Bermuda-based captive insurer qualifies as a captive insurer under Standard & Poor's Ratings Services' criteria and so is rated at a level commensurate with the ratings on its parent.
“The ratings reflect Omnium's integral role within the risk-management strategy of the Total group (Total or the group),” said a statement from the ratings firm.
“Based on our base-case scenario, we expect Omnium to remain integral to Total's risk-management strategy over the next 24 months.”
