AM Best affirms rating of Saipem captive

AM Best has affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of “a-” (excellent) of Switzerland-domiciled Sigurd Rück AG. The outlook for both ratings is stable.

Sigurd is a captive reinsurer of Italian oil company Saipem and a key element of the Saipem group’s risk management framework.