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18th of May 2012

Shell’s captive rated A+

Matthew Broomfield 19/10/2011

A captive of Royal Dutch Shell has been assigned a financial strength rating of A+ (superior) and issuer credit rating of “aa-”. The outlook assigned to both ratings is stable.
 
Vermont-based Noble Assurance Company (Noble) has exhibited strong capital adequacy, stable earnings and consistent surplus growth, said AM Best.
 
The company benefits from intensive risk management processes as a captive for Royal Dutch Shell and its subsidiaries, said the rating agency.
 
Noble cedes 100% of its risk taken to Solen Versicherungen AG (Solen), a subsidiary of Royal Dutch Shell. Solen is well capitalised and has demonstrated consistently improving metrics over the past few years, said AM Best.

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