AM Best Affirms Credit Ratings of Odyssey Group Holdings, Inc.’s Members
2024年7月13日 - 1:09AM
ビジネスワイヤ(英語)
AM Best has affirmed the Financial Strength Rating (FSR)
of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term
ICRs) of “aa-” (Superior) of the subsidiaries of Odyssey Group
Holdings, Inc. (Odyssey Group). The outlook of these Credit Ratings
(ratings) is stable. Please see below for a detailed listing of the
companies.
The ratings of Odyssey Group reflect its balance sheet strength,
which AM Best assesses as strongest, as well as its strong
operating performance, favorable business profile and appropriate
enterprise risk management.
The affirmations reflect a continuation of Odyssey Group’s solid
operating returns and low volatility through market cycles. The
group is aided by continuing favorable reserve development, which
is a result of its conservative approach to releasing reserves
overtime. Additionally, Odyssey Group in 2024 announced the
appointment of Carl Overy as new CEO following the previous CEO,
Brian Young, assuming a higher role within the greater Fairfax
organization. This change is not anticipated to result in material
changes at Odyssey Group and demonstrates the group’s proactive
succession planning.
The FSR of A+ (Superior) and the Long-Term ICRs of “aa-”
(Superior) have been affirmed with stable outlooks for the
following subsidiaries of the Odyssey Group Holdings, Inc.:
- Odyssey Reinsurance Company
- Hudson Insurance Company
- Hilltop Specialty Insurance Company
- Hudson Excess Insurance Company
- Greystone Insurance Company
- Newline Insurance Company Limited
- Newline Europe Versicherung AG
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best's Credit Ratings. For information
on the proper use of Best’s Credit Ratings, Best’s Performance
Assessments, Best’s Preliminary Credit Assessments and AM Best
press releases, please view Guide to Proper Use of Best’s
Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
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Dan Hofmeister, CFA, FRM, CAIA, CPCU Associate Director +1
908 882 1893 dan.hofmeister@ambest.com
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gregory.dickerson@ambest.com
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908 882 2310 christopher.sharkey@ambest.com
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