{"id":9815,"date":"2026-05-21T20:36:00","date_gmt":"2026-05-21T18:36:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=7e8a675d7c564a26d59c2df6f3173866"},"modified":"2026-05-21T20:36:00","modified_gmt":"2026-05-21T18:36:00","slug":"am-best-affirms-credit-ratings-of-united-kingdom-mutual-war-risks-association-limited","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=9815","title":{"rendered":"AM Best Affirms Credit Ratings of United Kingdom Mutual War Risks Association Limited"},"content":{"rendered":"

LONDON--(BUSINESS WIRE)--#insurance<\/a>--AM Best<\/b> has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of \u201ca-\u201d (Excellent) of United Kingdom Mutual War Risks Association Limited (UK War Risks or the Association) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable.<\/p><\/a><\/a>

\nThe ratings reflect UK War Risks\u2019 balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.<\/p>

\nUK War Risks\u2019 balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best\u2019s Capital Adequacy Ratio (BCAR). Capital consumption is driven largely by investment risk, as UK War Risks cedes almost all of its underwriting exposure to third-party reinsurers resulting in relatively low net retentions. Given the ongoing conflict in the Middle East, the Association is proactively monitoring its potential exposure and remains well-capitalised and supported by a diverse reinsurance panel of excellent credit quality. The balance sheet strength assessment also considers the Association\u2019s small capital base and material dependence on reinsurance to offer large limits to its members.<\/p>

\nGiven the Association\u2019s low net retention, income generated from its diversified investment portfolio has been the main driver of historical profitability. However, underwriting performance for the financial year ending February 2027 is expected to deteriorate following several reported claims arising from the Middle East conflict. Prospective operating performance remains subject to volatility given the moderate exposure to riskier asset classes such as equities and the ongoing geopolitical environment.<\/p>

\nUK War Risks has an established profile as a specialist underwriter of marine war risk insurance, covering a range of commercial vessels worldwide. However, the Association is of limited size, vulnerable to competition, and has a concentrated membership base, which it is looking to reduce via a renewed focus on expansion and diversification of members.<\/p>

\nThis press release relates to Credit Ratings that have been published on AM Best\u2019s 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\u2019s <\/b>Recent Rating Activity<\/b><\/a> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <\/b>Guide to Best\u2019s Credit Ratings<\/b><\/a>. For information on the proper use of Best\u2019s Credit Ratings, Best\u2019s Performance Assessments, Best\u2019s Preliminary Credit Assessments and AM Best press releases, please view <\/b>Guide to Proper Use of Best\u2019s Ratings & Assessments<\/b><\/a>.<\/b><\/p>

\nAM Best is a global credit rating agency, news publisher and data analytics provider specialising 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 <\/b>www.ambest.com<\/b><\/a>.<\/b><\/p>

\nCopyright \u00a9 2026 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p> Contacts<\/b>

\nPatrick McCrystal<\/b>Financial Analyst<\/b>+44 20 3808 2988<\/b>patrick.mccrystal@ambest.com<\/a>\nKanika Thukral<\/b>Associate Director, Analytics<\/b>+44 20 7397 0327<\/b>kanika.thukral@ambest.com<\/a>\nWilliam Hughes<\/b>Financial Analyst<\/b>+44 20 7397 4397<\/b>william.hughes@ambest.com<\/a>\nChristopher Sharkey<\/b>Associate Director, Public Relations<\/b>+1 908 882 2310<\/b>christopher.sharkey@ambest.com<\/a>\nAl Slavin<\/b>Senior Public Relations Specialist<\/b>+1 908 882 2318<\/b>al.slavin@ambest.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

LONDON–(BUSINESS WIRE)–#insurance–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of \u201ca-\u201d (Excellent) of United Kingdom Mutual War Risks Association Limited (UK War Risks or the Association…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9815","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/9815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9815"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/9815\/revisions"}],"predecessor-version":[{"id":9816,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/9815\/revisions\/9816"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}