"A'' (excellent) rating from A.M. Best Co.

The firm, which has three staff members on the Island, was founded in 1995 by Swiss Re and Winterthul.

"The rating reflects the company's capitalisation, risk management, geographic risk spread, client diversity and excellent operating results,'' A.M. Best stated. The rating also reflects the continued sponsorship of the founding companies to Harrington's marketing and underwriting strategies.

"The positive operating and financial results are derived from management's strategy of providing large lines of capacity to targeted multi-national companies with strong risk-management cultures,'' the rating agency stated.

"A.M. Best believes the company is well positioned as a provider of large limits of capacity to its targeted client base.'' In giving the rating outlook as stable A.M. Best believes the company will maintain its competitive advantages despite competition from insurers and reinsurers entering the market and a further erosion of prices.