Argo Re Ltd. and its US subsidiaries have been affirmed the financial strength rating of A (excellent) and issuer credit ratings (ICR) of "a". Best has also affirmed the ICR of "bbb" of the parent holding company, Argo Group International Holdings Ltd. The outlook for all ratings is stable.

The ratings agency said it reflected Argo Re's supportive capitalisation, experienced management team, and the historical profitability of its subsidiaries.

It said that the ratings also showed the favourable results to date of Argo Re's growing book of unaffiliated, third-party reinsurance business comprised of short-tail coverages, mainly property catastrophe reinsurance.