NEIL 2022 Annual Report & AM Best Credit Rating
NEIL is pleased to release its 2022 Annual Report and Consolidated Financial Statements.
NEIL 2022 Annual Report
NEIL is pleased to release its 2022 Annual Report and Consolidated Financial Statements. NEIL continued to maintain a strong capital position overall despite the challenging financial markets. For the year, favorable claims experience, with a consolidated loss ratio of 48.6%, partially offset investment losses, and good expense management, led to a strong combined ratio of 64.2%. The Company ended 2022 with invested assets of $4.4 billion and a Surplus of $3.8 billion. These results supported the Board’s declaration of a $150 million Policyholder Distribution.
As always, NEIL’s Members played an important role in our success. We recognize and thank all the individuals at our Member Companies for their contributions and support, and NEIL Staff for their dedication and hard work.
The links below take you to the 2022 Annual Report and Consolidated Financial Statements. Please feel free to distribute this email and links to anyone in your organization who would find this of interest.
AM Best Credit Rating
In addition, AM Best has affirmed the Financial Strength Rating (FSR) of “A” (Excellent) and an Issuer Credit Rating (ICR) of “a+” (Excellent) for Nuclear Electric Insurance Limited (NEIL) (Wilmington, DE) and its wholly-owned subsidiaries Cedar Hamilton Limited (Hamilton, Bermuda) and NEIL Overseas dac (Dublin, Ireland). The outlook for both the FSR and ICR is “stable.”
In the attached Press Release, AM Best notes the rating reflects the NEIL companies’ balance sheet strength, assessed as strongest, operating performance, favorable business profile, and appropriate enterprise risk management. The full AM Best report will be available for distribution, and posted to the NEIL website, shortly.
AM Best is a leading global credit rating agency serving the insurance industry.