AM Best has affirmed the financial strength rating of ‘A’ (Excellent) and the long-term issuer credit ratings of ‘a+’ (Excellent) of BNY Trade and Hamilton Insurance, single-parent captives of BNY Mellon. The outlook of these credit ratings is ‘stable’. The ratings of BNY Trade and Hamilton reflect their balance sheet strength, which AM Best assesses as ‘strongest’, as well as their strong operating performance, neutral business profile, and appropriate enterprise risk management. The captives continue to maintain excellent liquidity measures, benefiting from the financial flexibility and support of their ultimate parent, BNY Mellon. AM Best also asserts that the strong operating performances of BNY Trade and Hamilton reflect favourable combined ratios, driven by an excellent loss history and low expense structure. In their roles as single-parent captives, both companies provide reinsurance coverage and products to their parent, working as an integral component of BNY Mellon’s overall risk management framework.
