Infrassure ‘B++’ Rating Affirmed

A.M. Best Co. affirmed the financial strength rating of “B++” (very good) of Switzerland’s Infrassure Ltd. with a stable outlook. The rating reflects the company’s improving and solid risk-adjusted capitalization, strong market position in its specialist engineering niche and very good underwriting performance according to Best. Offsetting factors are potential gross volatility in loss experience and reliance upon reinsurance. Retained earnings, strengthening of equalization reserves and increased cover from an aggregate excess of loss protection have improved the company’s capital position. Best also expects Infrassure to report good profits at year-end 2004 as a result of disciplined underwriting and the continued strong rating environment in classes such as Erection All Risks.