AM Best has reaffirmed our Financial Strength Rating

West P&I has again been assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating
Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) by AM Best. The outlook assigned to these
Credit Ratings (ratings) is stable.

AM Best commented upon West’s surplus after tax of USD 71.7 million and stated that the A- (Excellent) rating reflects
West’s balance sheet strength which is underpinned by risk-adjusted capitalisation at “the strongest level” at year-end
February 2026, as measured by Best’s Capital Adequacy Ratio.
The year-ending 20 February 2026 was the fifth year in a row that the Club’s combined ratio has been better than the
International Group average. West’s solvency coverage increased to 195% at 20 February 2026, and in the year-ending
20 February 2027 the Club is forecasting to write gross premium of c. USD 450m across its diversified portfolio of marine
risks. West’s balance sheet strength and consistently strong operating performance were also recognised with an A-,
stable outlook rating from Standard and Poor’s earlier this year