S&P rates Max Capital A-

Standard & Poor's said it assigned its A- counterparty credit and financial strength ratings on Max Capital Group Ltd.'s operating insurance and reinsurance companies.

At the same time, the agency said it raised its counterparty credit rating on Max Capital to BBB from BBB-.

The outlook is stable.

"The rating actions on Max Capital Group Ltd. and its operating insurance and reinsurance companies reflect their strong underwriting and operating performance, with a five-year average combined ratio of 93.3% and a standard deviation of 7.7%; strong competitive position as a diversified specialty insurance and reinsurance company; and strong enterprise risk management," said S&P credit analyst Damien Magarelli.

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