OLDWICK, N.J., June 23, 2022--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" (Excellent) of the subsidiaries of Odyssey Group Holdings, Inc. (Odyssey Group). The outlook of these Credit Ratings (ratings) is stable. Please see below for a detailed listing of the companies.
The ratings of Odyssey Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
The ratings affirmation of the Odyssey Group is driven by its consistently strong underwriting results in recent years, despite elevated global catastrophe losses, as well as the continued expansion of both reinsurance and primary insurance lines. This expansion has resulted in gross premiums more than doubling over the past five years, further enhancing its market position. While the Odyssey Group’s balance sheet benefits from the financial flexibility and investment management provided by its parent organization, Fairfax Financial Holdings Limited, the group’s ratings also reflect the impact of its parent’s historically elevated debt leverage position.
The FSR of A (Excellent) and the Long-Term ICRs of "a+" have been affirmed with stable outlooks for the following subsidiaries of the Odyssey Group Holdings, Inc.:
Odyssey Reinsurance Company
Hudson Insurance Company
Hilltop Specialty Insurance Company
Hudson Excess Insurance Company
Greystone Insurance Company
Newline Insurance Company Limited
Newline Europe Versicherung AG
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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