Large losses at the Manx-based National Grid Insurance Company weren't enough to lower the captive insurer’s financial strength rating.
AM Best has affirmed the captive insurer's A rating.
The American rating agency says it made the decision because of the insurer's strong risk-adjusted capitalisation and comprehensive reinsurance program.
The company, owned by National Grid, is expected to incur around £40 million in net claims from this year’s summer floods in Europe.
Treasury minister 'hopes' businesses will pass on VAT reductions to customers
Falling from 20% to 5% for certain activities over summer
TT 'massive' for hospitality industry
Local businesses prepare for race week
Hopes summer VAT cuts will ease cost of living pressures for families and businesses
IoM Government mirrors UK action
'The TT is our crown jewel' says caterer
Hospitality vendors praise look and atmosphere of The Grandstand
