AM Best affirms Hiscox USA’s A rating

AM BEST has affirmed the financial strength rating of A, with stable outlook, of Hiscox USA and its lead member, Illinois-based Hiscox Insurance Co Inc (HICI). Hiscox USA is comprised of HICI and HICI’s inactive subsidiary, Hiscox Specialty Insurance Co. Hiscox USA and HICI’s ratings are based on AM Best’s group rating methodology and take into consideration HICI’s role and strategic importance to the Hiscox group, as well as the implicit and explicit support provided by the Hiscox group in the form of quota-share reinsurance with Hiscox Bermuda and a guarantee on all third-party reinsurance recoverables with the Bermudian ultimate parent holding company.