LONDON, May 26, 2004 (PRIMEZONE) -- Alea Group Holdings Ltd (Bermuda)(LSE:ALEAq) ("Alea Group"), the global reinsurance and specialty insurance company, is pleased to announce that A.M. Best and Standard & Poor's have affirmed Alea Group's ratings.
A.M. Best has assigned a group financial strength rating of A- (Excellent) to all of Alea Group's operating subsidiaries. A.M. Best said the group rating reflects Alea Group's excellent capitalisation, strong underwriting performance and an improving business position.
Standard & Poor's has assigned a group financial strength rating of A- (Good) to all of Alea Group's operating subsidiaries. Standard & Poor's said the ratings reflect Alea Group's very strong capitalisation, strong competitive position, strong management and improving operating performance.
Both A.M. Best and Standard & Poor's have said that Alea Group's ratings remain stable.
Dennis Purkiss, Chief Executive of Alea Group, said: "The reaffirmation of the ratings by both agencies demonstrates the strength of our balance sheet and will allow us to continue to improve our operating performance and deliver our business plans."
The full text of the ratings announcements is available on Alea Group's website at www.aleagroup.com.
About Alea Group
Alea is a global reinsurance and specialty insurance company with expertise in a wide range of property and casualty reinsurance, insurance, alternative risk and finite risk products and services. Alea maintains a significant presence in major insurance and reinsurance markets worldwide. Alea is headquartered in Hamilton, Bermuda and has ongoing operations in the United Kingdom, the United States, Bermuda, Switzerland, Australia and Jersey. For more information on Alea Group, see www.aleagroup.com.
This information is provided by RNS,
the company news service from the London Stock Exchange