AM Best Europe Rating Services Ltd has affirmed the financial strength rating of A- (excellent) and the issuer credit ratings of a- of Bermuda-based Through Transport Mutual Insurance Association Limited (TTB) and its subsidiary, the UK-based TT Club Mutual Insurance Limited (TTI) . TTB and TTI collectively trade as TT Club.The outlook for both ratings remains stable.The ratings of TTI reflect the “integral part it plays in TT Club’s strategy, as well as the reinsurance protection provided by TTB,” said Best. “TT Club is expected to maintain excellent consolidated risk-adjusted capitalisation in 2011, following the good operating surplus achieved in 2010. Capitalisation is supported by a $30 million subordinated loan (issued in 2006), and the club benefits from an extensive reinsurance programme.”