AM Best Maintains Credit Ratings for ERIKA Försäkringsaktiebolag

AM Best Reaffirms ERIKA Försäkringsaktiebolag’s Credit Ratings with Stable Outlook

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) for ERIKA Försäkringsaktiebolag (publ) (Erika), based in Sweden. The stable outlook on these ratings reflects Erika’s robust balance sheet strength, strong operational performance, and effective enterprise risk management.

Erika demonstrates very strong risk-adjusted capitalization, supported by its Best’s Capital Adequacy Ratio (BCAR) and a conservative investment portfolio with high liquidity. Prudent reserving practices further enhance its overall balance sheet strength, according to AM Best.

Over the past five years (2019-2023), Erika has maintained a solid average return on equity of 9.6%. The company’s consistent underwriting margins have contributed to stable technical surpluses for 18 consecutive years (2006-2023), underscoring its strong operational performance.

Despite its concentrated business profile, primarily providing travel insurance to participants in international education programs offered by Education First (EF), Erika mitigates risks through its focused product strategy and geographic diversification.

This press release pertains to Credit Ratings published on AM Best’s website. For comprehensive rating details and disclosures, including the responsible office for issuing each rating mentioned, please refer to AM Best’s Recent Rating Activity web page. For more insights on the application and limitations of Credit Rating opinions, consult AM Best’s Guide to Best’s Credit Ratings and Guide to Proper Use of Best’s Ratings & Assessments.

AM Best, headquartered in the United States, is a globally recognized credit rating agency, news publisher, and data analytics provider serving the insurance industry across more than 100 countries. Regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore, and Mexico City support its international operations. For further information, visit

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