ratings agency A.M. Best Co.

The group, which includes Commercial Risk Reinsurance Co. Ltd. and wholly-owned US-based subsidiary, Commercial Risk Re-Insurance Co., obtained the rating based on the companies' affiliated marketing, technical and underwriting strategies in providing alternative risk management solutions to the global marketplace.

A.M. Best said the rating reflects "the company's strong capitalisation, tightly controlled exposure management, geographically diversified book of business, good operating earnings, capital growth and affiliation with SCOR, a leading reinsurer rated A (Excellent).'' Based in Bermuda and Vermont, business is developed through direct markets and brokers. The group's strategy is to provide innovative specialty and finite capacity to key business partners, primary insurers and commercial and industrial insureds.

Graham C. Pewter, president and CEO of Commercial Risk Partners Ltd., said, "We are extremely pleased with the rating assigned to the Commercial Risk Group by A.M. Best. It provides objective evidence to the market and our clients of our financial strength and security.

"A.M. Best obtained a clear understanding of our operations and business philosophy through their detailed review process. We are delighted that they have recognised our strong client commitment and innovative approach to providing specialty insurance and reinsurance coverage.'' Best said "the group's competitive advantages included its experienced management team, technical modelling techniques and synergistic relationship with affiliated companies.'' A.M. Best said it "views the underwriting and risk control procedures followed by management to maintain solvency and capital as additional factors on which the evaluation was based.

"The rating outlook further reflects the companies' excellent financial posture, competitive advantages, development of innovative products, marketing relationships with affiliates, experienced management team, and their focus on being a provider of specialty products.''