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.
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