Bermuda-based Endurance Specialty Holdings Ltd. has announced that AM Best has upgraded the financial strength rating of its operating subsidiary, American Agri-Business Insurance Co. (AA-BIC), to A (excellent).

The rating upgrade reflects AA-BIC's financial performance, experienced management team, and the strength and liquidity of Endurance's capital position.

President of ARMtech, Samuel Scheef, said: "The recognition of Endurance's exceptional financial strength in our ratings upgrade is a significant step for AA-BIC and ARMtech as we continue to provide specialty expertise and exceptional service to our insureds and agents."

Kenneth LeStrange, chairman, president and CEO of Endurance, said: "We are very pleased that A.M. Best has upgraded AA-BIC's rating to match that of the rest of Endurance. ARMtech and AA-BIC are an integral part of our insurance operation and will continue to play a significant role in our strategy as a leading specialty insurer and reinsurer."

Headquartered in Lubbock, Texas, American Agri-Business Insurance Co. and its affiliated company, ARMtech, are underwriters of US federally sponsored crop insurance.