AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to AXIS Specialty Insurance Limited (ASIL) (Pembroke, Bermuda), a subsidiary of AXIS Capital Holdings Limited (Axis Capital). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect ASIL’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.

The ratings of ASIL also reflect the company’s role as an internal reinsurer of affiliated businesses, and the reinsurance, liquidity and other implicit support provided to other AXIS Capital entities. ASIL’s portfolio includes a variety of specialty lines of business, making this entity strategically important to its parent, AXIS Capital, which has focused on becoming a leading specialty insurer.

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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