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

People & Company News

DNV Type Approved Anchor Winch for the Arctic Prowler

JK Fabrication has landed DNV certification for its 40-30-3000-DNV series Anchor Winch. Culminating a two-year process, JK’s C-series winch was at last awarded

US Coast Guard Travelling Inspectors' Centenary

July 2014 marked the 100th anniversary of the traveling inspection staff, originally created under the Steamboat Inspection Service. These travelers are highly

Pumps Reach Sinking Shrimper Just in Time

A commercial fishing vessel from Brownsville is slowly making its way back to port, thanks to some quick actions by its crew and Coast Guard units, informs the US Coastguard,

Finance

Orica Fined Heavily for Australian Pollution Incidents

Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

 
 
Maritime Security Maritime Standards Naval Architecture Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1378 sec (7 req/sec)