A.M. Best has affirmed the financial ratings of A (Excellent) and the long-term issuer credit ratings of “a+” of BNY Trade Insurance and The Hamilton Insurance Corporation, the single-parent captives of BNY Mellon.
The outlook of these credit ratings remains stable.
The ratings reflect the company's balance sheet strengths, both categorised by A.M. Best as strongest, in addition to both captives’ strong operating performances, neutral business profiles, and appropriate enterprise risk management.
In their roles as single-parent captives, both companies provide reinsurance coverage and products to their parent.
BNY Trade’s rating reflects its steady growth in surplus which has been driven by its consistent premium growth and favourable profitable over the past several years.
Hamilton’s ratings are reflective of its outstanding liquidity and operating performance, as well as the contribution that its consistent level of investment income has made to its growth in surplus, according to A.M. Best.
Both captives benefit from BNY Mellon’s robust, enterprise–wide policies and procedures in the areas of risk management, corporate governance, compliance, and ethics.
