A.M. Best has affirmed the financial strength rating (FSR) of A++ (Superior), and the issuer credit rating (ICR) of "aa+" (Superior), of the members of The Hartford Steam Boiler Group (HSB) (Hartford, CT). As part of the Group, The Boiler Inspection and Insurance Company of Canada receives recognition for these ratings in Canada.
The Boiler Inspection and Insurance Company of Canada provides boiler and machinery specialty engineering insurance and machinery inspection services.
“The rating affirmations reflect the group's stand-alone strengths and the benefits derived from synergies with Munich Reinsurance America, Inc. and its ultimate parent, Munich Reinsurance Company (Munich Re),” the company noted in a statement. “The Group’s relationship with Munich Re has provided access to new markets in continental Europe and refocused the U.S. business on HSB's core equipment breakdown coverage.”