AM Best has withdrawn the credit ratings of Relyens Mutual Insurance (Relyens) following the company’s request to no longer participate in the rating process. Based in France, Relyens is a company offering medical professional liability insurance in France, Italy and Spain. AM Best had affirmed Relyens’ financial strength rating of “A-” (Excellent) and the long-term issuer credit rating of “a-” (Excellent). Relyens’ balance sheet strength is supported by its risk-adjusted capitalisation, which is at the strongest level. AM Best says that the offsetting factors in the balance sheet strength assessment include a high dependence on reinsurance. However, owing to Relyens’ long-term relationship with its high-quality reinsurance panel the risks with this dependence are limited.
