-

AM Best Assigns Credit Ratings to Hydor Insurance Limited

LONDON--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Hydor Insurance Limited (HIL) (Guernsey). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect HIL’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

HIL’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation at the strongest level at 31 December 2025, as measured by Best’s Capital Adequacy Ratio (BCAR), and supported by a conservative investment strategy and good liquidity. The company has a high dependence on reinsurance to write relatively large risks, although the associated risks are mitigated partially by the good credit quality and stability of the reinsurance panel.

For period-end December 2025, HIL's net income was driven by strong underwriting performance, reflected by a combined ratio of 63.8%. AM Best expects the company’s prospective technical performance to remain supportive of the strong assessment, underpinned by favourable market conditions and prudent risk selection. Due to the conservative nature of its investment strategy, HIL’s investment income is expected to be modest and stable.

HIL is a specialist marine insurer with a niche competitive position in the fixed premium segment of the protection and indemnity market. It is part of Hydor group and its business is sourced entirely from Hydor AS, the group’s delegated underwriting authority enterprise. The company benefits from the wider group’s track record of writing highly profitable marine insurance business over a long period of time.

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.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Naz Botea, ACA
Financial Analyst
+44 20 7397 0313
naz.botea@ambest.com

Tim Prince
Director, Analytics
+44 20 7397 0320
timothy.prince@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

AM Best


Release Versions
Hashtags

Contacts

Naz Botea, ACA
Financial Analyst
+44 20 7397 0313
naz.botea@ambest.com

Tim Prince
Director, Analytics
+44 20 7397 0320
timothy.prince@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Social Media Profiles
More News From AM Best

AM Best to Present Results of Survey on Insurers’ Artificial Intelligence Adoption to Society of Insurance Research’s Members

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best will deliver a presentation based on its recent survey of insurance companies on the pace of artificial intelligence (AI) adoption to the Society of Insurance Research’s (SIR) members on June 11, 2026. Sridhar Manyem, senior director, Industry Research and Analytics, AM Best, will lead the session, which is titled, “Adoption and Deployment of AI: AM Best Survey Results.” To gauge the impact of AI on the insurance industry, AM Best conducted a survey of it...

AM Best’s 2026 Student Challenge Winners Announced

OLDWICK, N.J.--(BUSINESS WIRE)--Faiza Ahmed and Anushka Nagaraj of Temple University have been named the winners of AM Best’s 2026 Student Challenge for their entry, “DIGInsured: A Captive Insurance Model for Digital Creators.” DIGInsured centers on a digital creators’ association and a captive insurer with cells to segment insureds by risk. Samit Bin Alam, St. John’s University – Peter J. Tobin College of Business, took second place for “CLARNOR: Continuous AI Oversight for Insurance Systems.”...

Best’s Market Segment Report: Japan Life Insurers’ Use of Reinsurance More Than Doubled Since 2020

HONG KONG--(BUSINESS WIRE)--Japan’s life insurers have increasingly relied on reinsurance in recent years, with the overall cession rate as a percentage of total gross premium written for the segment rising to more than 24% in 2023 and 2024 from just under 10% in 2020, according to a new AM Best report. According to the new Best’s Special Report, “Japan Life Insurers Increase Use of Reinsurance,” the implementation of an economic value-based solvency regulation framework is driving the increase...
Back to Newsroom