Credit ratings agency AM Best has affirmed the various financial strength ratings of QBE Americas, citing adequate capitalisation and a sound operating performance.

QBE Americas businesses include QBE Re Group US, QBE Regional Insurance Group, Prateorian Financial Group, National Farmers Union Property and Casualty, United Security Insurance and North Pointe Insurance.

“QBE has demonstrated an historical track record of supporting its operations throughout the world, which is a positive rating attribute,” AM Best said.

It said QBE typically profits from its “significant” acquisition activity in North America, but may yet encounter integration and legacy problems.