Rating agency AM Best has affirmed its financial strength A+ rating for ACE Europe Group Limited (AEGL), along with the group’s “aa” issuer credit rating.
AM Best said that the ratings reflect AEGLs ‘excellent stand alone risk-adjusted capitalisation, solid operating performance and excellent business profile.’
In a statement the rating agency also acknowledged the implicit support provided to AEGL by its parent company, ACE Limited (ACE).
This allows AEGL to benefit from ACE’s diversified global operation and a consistently favourable record of generating strong earnings and cash flows.