A.M. Best Awards HSB Group Its Highest Rating

Business Wire, Feb 3, 2005

HARTFORD, Conn. -- A.M. Best Company, the world's oldest and most authoritative insurance rating agency, has awarded the HSB Group of companies its highest financial strength rating, A (Superior). The A rating applies to The Hartford Steam Boiler Inspection and Insurance Company, The Hartford Steam Boiler Inspection and Insurance Company of Connecticut, HSB Engineering Insurance Limited of the United Kingdom and The Boiler Inspection and Insurance Company of Canada.

In its rating A.M. Best cited, "the rating reflects surplus that surpasses the minimum that is required for the rating level, historically outstanding operating results and sustainable competitive advantages derived from the group's preeminent technical expertise, extensive loss control capabilities and database."

"A.M. Best's evaluation of HSB demonstrates our financial strength, ability to honor our commitments and create value for our clients," said Richard Booth, president and chief executive officer for HSB. "Our customers count on HSB for strength and security, outstanding service and strategies that make specialty insurance and loss prevention easier to access and more affordable for businesses and consumers."

Only two percent of the U.S. property-casualty insurance groups rated by A.M. Best currently hold the prestigious A rating. A.M. Best's financial strength rating is an independent opinion, based on a comprehensive quantitative and qualitative evaluation, of a company's balance sheet strength, operating performance and business profile.

The Hartford Steam Boiler Inspection and Insurance Company is a global specialty insurer and reinsurer. One of the world's leading equipment breakdown insurers, Hartford Steam Boiler helps clients reduce risk through a unique combination of specialty coverages, engineering-based risk management strategies and loss reduction services. For more information about Hartford Steam Boiler visit its website at www.hsb.com.