Bermuda-based finite insurer and reinsurer, Scandinavian Re.

Standard & Poors assigned the firm an A claims paying ability rating earlier in the year.

A.M. Best cited Scandinavian Re's excellent capitalisation, sound underwriting practices and its position as a lead provider of finite risk solutions to the global marketplace as reasons for the first-time assigned rating.

President Jens Juul said: "Since establishing Scandinavian Re in 1988 we have conducted over 130 transactions in 20 countries and we are now recognised as a leading cutting edge innovator of finite risk solutions.'' The company has just completed a capital increase of $150 million, bringing the paid up capital to $250 million.

Executive vice president and chief financial officer David Brining said 1996 year end capital and surplus is expected to be around $290 million.

The company said that the present renewal season in the traditional field is showing further pressure on rates.

Mr. Juul said: "We will continue to focus on "niche'' areas, where the elasticity of our tailor-made products provides significant added value to our clients.''