Bermuda-based Queen's Island Insurance Company Ltd. has been assigned a financial strength rating of A+ (superior) and issuer credit rating of "aa-" by AM Best Co. The outlook assigned to both ratings is stable.

The ratings mainly reflect the support provided to Queen's Island by affiliate Berkley Insurance Company in the form of an aggregate stop loss reinsurance contract, which limits any single calendar year operating loss, and a net worth maintenance agreement with its parent, WR Berkley Corporation.