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2014-05-09

Infrassure Ltd.: Infrassure comments on A.M. Best evaluation

Infrassure Ltd. / Infrassure comments on A.M. Best evaluation. Processed and
transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely
responsible for the content of this announcement.
Infrassure has been advised by A.M. Best that they have decided to revise
their credit rating from A- (Excellent) to B++ (Good). This decision comes
as a disappointment to the company as the capital models employed by A.M.
Best show sufficient financial strength to support a much higher rating.
Moreover, Infrassure believes that A.M. Best's qualitative comments do not
sufficiently reflect the substantial de-risking of the portfolio undertaken
by management over the past 18 months, including a sharp reduction in
capacity deployed and the purchase of a whole account reinsurance program.

Infrassure management is cognizant of the fact that the recent financial
performance has been mainly driven by overlining of capacity in New York just
prior to Windstorm Sandy. This overlining has since been fully corrected.
Otherwise, Infrassure's excellent underwriting performance continues to be
confirmed by the first four-month results in 2014, reporting a combined ratio
of 61% and a pre-tax profit of CHF 18.3 million

Despite the one-off spike in performance driven by Windstorm Sandy, we remain
confident that customers will continue to value Infrassure's technically
sound approach to underwriting and claims handling. Moreover, our capital
ratios remain strong and clients can be confident that Infrassure remains in
a solid financial position to "only promise what we can deliver, and deliver
what we promise".

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Infrassure Ltd. via Globenewswire

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