S&P ups Allied World

Standard & Poor's said it raised the ratings on Allied World Assurance Co. Holdings AG and its operating subsidiaries by one notch. S&P raised the counterparty credit rating on the holding company to BBB+ from BBB and the counterparty credit and financial strength ratings on its core operating subsidiaries to A from A-.

The outlook is stable.

The ratings upgrade reflects the company's strong financial profile, which encompasses a track record of strong operating results, with a five-year average combined ratio of 81% and a return on revenue of 34% from 2006 to 2010 as well as strong investments and capitalization for the rating, the agency said.

The company continues to outperform its peer group and has a good track record of favorable reserve development, the agency added.

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