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AM Best Affirms Credit Ratings of Odyssey Group Holdings, Inc.?s Members

BY Business Wire | CORPORATE | 07/12/24 12:09 PM EDT

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of ?aa-? (Superior) of the subsidiaries of Odyssey Group Holdings, Inc. (Odyssey Group). The outlook of these Credit Ratings (ratings) is stable. Please see below for a detailed listing of the companies.

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 affirmations reflect a continuation of Odyssey Group?s solid operating returns and low volatility through market cycles. The group is aided by continuing favorable reserve development, which is a result of its conservative approach to releasing reserves overtime. Additionally, Odyssey Group in 2024 announced the appointment of Carl Overy as new CEO following the previous CEO, Brian Young, assuming a higher role within the greater Fairfax organization. This change is not anticipated to result in material changes at Odyssey Group and demonstrates the group?s proactive succession planning.

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.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing 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 ? 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Source: AM Best

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