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AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a+ of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of debt instruments issued or guaranteed by Generali. The outlook of the Credit Ratings (ratings) is stable.
The ratings reflect Generali s balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.
Generali s balance sheet strength is underpinned by risk-adjusted capitalization that is considered to be at the strongest level, as measured by Best s Capital Adequacy Ratio (BCAR). The group had a regulatory solvency ratio of 203% as at 30 September 2020 (YE 2019: 224%). Offsetting factors in the assessment include the group s significant exposure to I
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AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of New York Marine and General Insurance Company (New York, NY) and its wholly owned subsidiaries, Gotham Insurance Company
(New York, NY)
and Southwest Marine and General Insurance Company (Scottsdale, AZ) (collectively referred to as ProSight Specialty Group). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of ProSight Global, Inc. (Delaware). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect ProSight Specialty Group’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.