A.M. Best affirms Transmonde ratings
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and issuer credit rating of “a” for Transmonde Services Insurance Company, located in Bermuda.
Transmonde provides professional, general and pollution liability coverages to members of the International Association of Superintendents.
The ratings reflect its risk-adjusted capitalisation, minimal underwriting leverage and profitable operating results.
Partially offsetting its rating factors are its relatively high retentions and concentration in liability lines with significant loss severity potential, and its limited market profile as a single parent captive, according to A.M. Best.
