A.M. Best Awards TT Club "A-" Rating

Tuesday, June 21, 2011

TT Club, the leading mutual insurer in the international freight and logistics arena, has had its financial strength rating of A- (Excellent) re-affirmed by the US rating agency, A. M. Best.  TT’s issuer credit rating was also maintained at "a-" by the agency, which at the same time determined that the outlook for both ratings remains "stable."

In a statement issued today announcing the Club’s ratings, A. M. Best expressed its view of the insurer’s balance sheet strength: “TT Club is expected to maintain excellent consolidated, risk-adjusted capitalization in 2011 following the good operating surplus achieved in 2010.” It also commented, “The Club continues to set reserves with a significant margin established above internal actuary’s best estimate”.

The agency expects The Club’s underwriting results, which were weakened in 2010 by losses arising from the earthquake in Chile, as well as two major maritime incidents, to improve as global trading conditions recuperate.  This belief is encouraged, say A. M. Best, by TT Club’s strong specialist business profile covering both property and liability in the international maritime transport and logistics markets.
 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Stranded Virginia Beach Bulker Salvage Plan Set

The Coast Guard advises it is in the final stages of reviewing a salvage plan that is scheduled to begin Friday morning to move the 751-foot bulk carrier, 'Ornak',

Two Marine Engineers Join Specialists EBDG

Naval architecture, marine engineering & production support service providers Elliott Bay Design Group LLC (EBDG) apprise that they have appointed marine engineers

Inchcape Shipping Services Opens in Venezuela

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has expanded its network in Central and South America with the opening of ISS Venezuela in Puerto La Cruz,

Finance

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type,

PetroVietNam Gas's Q1 gross profit falls 27.5%

PetroVietNam Gas's first-quarter gross profit fell 27.5 percent to 3.9 trillion dong ($185 million) from a year earlier, the Lao Dong (Labour) newspaper reported.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1290 sec (8 req/sec)