A.M.Best affirms Argus at A

International insurance rating service A.M. Best has affirmed the financial strength rating of A (Excellent) of Bermuda-based Argus Group with a stable outlook, the agency said in a statement. The rating has been removed from under review. The financial strength rating has been affirmed to the following Argus Group companies: Argus Insurance Company Limited, Bermuda Life Insurance Company Limited and Somers Isles Insurance Company Ltd. According to A.M.Best, the rating reflects the group's continued favorable risk-adjusted capitalization and consistently profitable operating performance backed by a strong franchise in the Bermuda market as the dominant domestic insurer for life, health, employee benefits and pension products. These positive rating factors are partially offset by the group's total dependence on the insular and mature Bermudan market, increased frequency in motor claims and increased severity in health claims, the statement added.