AM Best Affirms Credit Ratings of Odyssey Group Holdings, Inc.'s Subsidiaries
The ratings of Odyssey Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
The ratings affirmations reflect the continuation of Odyssey Group's solid operating returns and low volatility through market cycles. Odyssey Group's long track record of prior year favorable reserve development remains as a testament to the conservative approach adopted in its reserve practices. Additionally, the appointment of a long-tenured member of the organization's senior management team to replace its outgoing chief executive officer supports continuity in the company's strategic direction and increases confidence that Odyssey Group's historically strong operating performance will continue under its new leadership.
Odyssey Group suffered California wildfire losses in the first quarter of 2025; however, these losses are not expected to lead to a deviation of the company's underwriting performance target for 2025, provided natural catastrophe activity in the year is not materially higher than in 2024.
The FSR of A+ (Superior) and the Long-Term ICRs of 'aa-' (Superior) have been affirmed with stable outlooks for the following subsidiaries of the Odyssey Group Holdings, Inc.:
Odyssey Reinsurance Company
Hudson Insurance Company
Hilltop Specialty Insurance Company
Hudson Excess Insurance Company
Greystone Insurance Company
Newline Insurance Company Limited
Newline Europe Versicherung AG
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
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