A.M. Best Affirms Ratings of Noble Assurance Company

  A.M. Best Affirms Ratings of Noble Assurance Company

Business Wire

OLDWICK, N.J. -- December 20, 2012

A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and
issuer credit rating of “aa-” to Noble Assurance Company (Noble) (Burlington,
VT). The outlook assigned to both ratings is stable.

Noble has exhibited strong capital adequacy, stable earnings and consistent
surplus growth. The company benefits from intensive risk management processes
as a captive insurance company for Royal Dutch Shell plc and its subsidiaries.
100% of the risk taken by Noble is ceded to Solen Versicherungen AG (Solen), a
subsidiary of Shell Petroleum N.V. and ultimately Royal Dutch Shell plc. Solen
is well capitalized and has demonstrated consistently strong metrics over the
past few years. Noble’s ultimate parent is Royal Dutch Shell plc.

A.M. Best remains the leading rating agency of alternative risk transfer
entities, with more than 200 such vehicles rated in the United States and
throughout the world.

For current Best’s Credit ratings and independent data on the captive and
alternative insurance market, please visit www.ambest.com/captive.

The principal methodology used in determining these ratings is Best’s Credit
Rating Methodology -- Global Life and Non-Life Insurance Edition, which
provides a comprehensive explanation of A.M. Best’s rating process and
highlights the different rating criteria employed. Additional key criteria
utilized include: “A.M. Best’s Rating Methodology for Captive Insurance
Companies”; “Risk Management and the Rating Process for Insurance Companies”;
and “Understanding Universal BCAR.” Methodologies can be found at
www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most
authoritative insurance rating and information source. For more information,
visit www.ambest.com.

       Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contact:

A.M. Best Co.
Thomas Herriger, 908-439-2200, ext. 5375
Senior Financial Analyst
thomas.herriger@ambest.com
or
Steven Chirico, CPA, 908-439-2200, ext. 5087
Assistant Vice President
steven.chirico@ambest.com
or
Carole Lovell, 908-439-2200, ext. 5445
Public Relations Associate
carole.lovell@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com
 
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