A.M. Best Assigns Ratings to Omega US Insurance, Inc

Business Wire, Dec 3, 2007

OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating (ICR) of "a-" to Omega US Insurance, Inc. (Omega US) (Wilmington, DE), headquartered in Chicago, IL. The outlook for both ratings is stable.

The ratings reflect Omega US' conservative business plan, experienced management team and the benefits of having a strong balance sheet that is unencumbered by prior year reserve liabilities. Additionally, the ratings reflect the benefits derived from being a subsidiary of Omega Insurance Holdings Limited [LON:OIH] (Bermuda), a publicly traded holding company for businesses in Bermuda, United States, London and Germany that focuses on predominantly short-tail property insurance and reinsurance.

In addition, the ratings recognize the successful background of the executive team and the well established relationships management has with the existing managing general agent network, which will comprise the distribution channel for Omega US' book of surplus lines business.

A.M. Best will continue to closely monitor the quarterly performance of Omega US to ensure that actual results are in line with the company's business plan.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.> Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.