AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'aa-' (Superior) of
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Top Layer's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and very strong enterprise risk management.
These ratings continue to reflect the substantial amount of support Top Layer receives from its co-owners,
The ratings also reflect the significant parental support from
Top Layer's capital profile is very unique. The company's capitalization is enhanced through various contractual obligations, resulting in substantial capital support and reinsurance protection from
Since Top Layer's inception in 1999, it has generated solid operating results and sustained only two losses. AM Best attributes this favorable result to the property catastrophe underwriting expertise of
AM Best acknowledges that Top Layer's ratings are largely dependent upon the support it receives from
This press release relates to Credit Ratings that have been published on AM 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 AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
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