AM Best has assigned a financial strength rating (FSR) of A-(Excellent) and the issuer credit ratings of “a-” to programme transformer start-up Clear Blue Insurance Company and Clear Blue Specialty Insurance Company.
The outlook assigned to both ratings is stable.
According to AM Best, the ratings reflect the companies’ supportive risk-adjusted capital position and the expectations of financial performance within its business plan.
The rating firm also recognised the management’s planned implementation of advanced measures to mitigate contractual, collateral and underwriting risk. Additional consideration was given to management’s projected market profile, operating structure, opportunity for fee-based income and the availability of additional capital.