AM Best is requesting comments from market participants in the insurance industry and other interested parties on a draft update to its alternative risk transfer (ART) criteria procedure for rating incorporated cell entities.
The main proposed update to ART, which will be renamed ‘Rating Captives and Other Alternative Risk Transfer Entities’ aims to establish a clear approach from AM Best to assigning financial strength ratings (FSRs) and issuer credit ratings (ICRs) to individual incorporated cell entities.
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