Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 23rd of July 2018
July 8, 2010

Positive outlook for Ansvar in Ecclesiastical restructure

by Gill Montia

Story link: Positive outlook for Ansvar in Ecclesiastical restructure

Credit rating agency, A.M. Best has placed Ansvar Insurance Company Limited under review, with positive implications for its current financial strength rating of A- (Excellent) and issuer credit rating of “a-“.

Ansvar describes itself as an ethical general insurer specialising in the not-for-profit sector.

It operates as a wholly owned-subsidiary of Ecclesiastical Insurance Office plc (EIO), the holding company of the Ecclesiastical group of companies, and A.M. Best’s action follows EIO’s announcement that it intends to change Ansvar’s legal structure.

From 2011, the insurer is expected to operate as a division of EIO under its existing brand, rather than as a separate subsidiary.

The restructure should allow the group to manage its capital more efficiently and will also provide Ansvar with access to EIO’s main reinsurance programme.

 

News posted:



Related stories to Positive outlook for Ansvar in Ecclesiastical restructure: