AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a+' (Excellent) for BNY Trade Insurance, Ltd. and The Hamilton Insurance Corp. Both entities are single-parent captives of The Bank of New York Mellon Corporation, and their outlook remains stable.
The ratings reflect the captives' strong balance sheet strength, supported by risk-adjusted capitalization at the strongest level, excellent liquidity measures, and consistent net annual profits. The Hamilton Insurance Corp. also benefits from a very strong balance sheet assessment.
These companies are integral to BNY Mellon's overall risk management framework, providing comprehensive reinsurance coverage to their parent. The ratings highlight the financial flexibility and support from BNY Mellon, reinforcing the parent company's robust enterprise-wide policies in risk management, corporate governance, and compliance.
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