The United Kingdom Mutual War Risks Association is set to report a profitable year according to AM Best, which has affirmed the insurer’s ‘A-’ rating.

The ratings agency forecast a positive operating result and a strong investment performance as it gave an update on the club’s financial status.

AM Best characterised the club’s operating performance as ‘adequate’ and noted its relatively small scale serving a specialised sector of the marine insurance market but predicted risk adjusted capitalisation was likely to remain excellent.