Best’s News & Research Service - May 22, 2020 10:14 AM (EDT)
AM Best Withdraws Credit Ratings of Global Hawk Property and Casualty Insurance Company
- May 22, 2020 10:14 AM (EDT)
Oldwick //BestWire// - AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Global Hawk Property and Casualty Insurance Company (Global Hawk) (Wilmington, DE). The outlook of these Credit Ratings (ratings) remains stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
The ratings reflect Global Hawk’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
The ratings consider the company’s strongest level of risk-adjusted capitalization and strong liquidity ratios. The ratings also acknowledge the company’s narrow focus and lack of business written to date.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.