A.M. Best Assigns Credit Ratings to C&F Cayman SPC
OLDWICK, N.J.--(BUSINESS WIRE)--Oct 1, 2018--A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to C&F Cayman SPC (Cayman Islands). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect C&F Cayman SPC’s balance sheet strength, which A.M. Best categorizes as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating actions follow the execution of a reinsurance quota share agreement with United States Fire Insurance Company (USFIC) under which it will assume 100% of the business written by C&F Cayman SPC. C&F Cayman SPC is a wholly owned subsidiary of USFIC and operates as a segregated portfolio company consisting of a core entity and segregated portfolios.
USFIC is the lead company of the Crum & Forster Insurance Group, which provides a range of commercial coverages throughout the United States. C&F Cayman SPC has been added as a member of that group, based on the explicit financial support of USFIC through the reinsurance agreement and other implicit support.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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CONTACT: A.M. Best
Darian Ryan, CPA
+1 908 439 2200, ext. 5449
Senior Financial Analyst
Jennifer Marshall, +1 908 439 2200, ext. 5327
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
KEYWORD: UNITED STATES EUROPE NORTH AMERICA CARIBBEAN CAYMAN ISLANDS NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 10/01/2018 03:26 PM/DISC: 10/01/2018 03:26 PM