Saipem captive given ‘excellent’ rating
A.M. Best has assigned the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-“ to Sigurd Rück, the captive reinsurer of Saipem, domiciled in Switzerland.
Saipem, an Italian group, provides services to the oil and gas sector, including procurement, construction and installation of pipelines.
The ratings of Sigurd Rück reflect the company’s “excellent” risk-adjusted capitalisation, “very strong” operating performance and its “importance” as a risk management tool for the Saipem group, according to A.M. Best.
