A.M. Best has assigned a financial strength rating of “A (Excellent)” and an issuer credit rating of “a” to European Mutual Association for Nuclear Insurance (EMANI).
The outlook assigned to both ratings is stable.
The ratings reflect EMANI’s strong consolidation risk-adjusted capitalisation, excellent performance record and strong specialist business profile in the nuclear energy sector.
The track record of strong underwriting results is demonstrated by a five-year average combined ratio of 34 percent.
Partially offsetting these strengths are Emani’s exposure to large underwriting losses and the potential for capital depletion following a full-limit loss.
The risk is mitigated by an extensive reinsurance programme, which is placed with a panel of financial reinsurers.
