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.
'Part and parcel': Isle of Man Post Office comments on Evri rumours
Reports courier service to withdraw from Island and handover operations
Evri tight lipped over reports courier service to leave the Island
An online report claims the firm is in advanced negotiations to withdraw entirely from the Isle of Man
OFT to investigate possible regulation of funeral directors
Follows 'complaints' and 'legislative developments'
Manx Telecom merger not scrutinised by Manx Government
But UK Government did review the sale
