Balance-sheet strength is assessed as very strong, with three-quarters of assets in a parent promissory note.
AM Best affirmed the A financial strength rating of Stellar, Aramco's Bermuda captive.
Roughly three-quarters of the captive's assets are a promissory note from its parent, and AM Best assesses balance-sheet strength as very strong.
For insurance capital allocators, the affirmation describes Aramco's backing rather than Stellar's asset diversification.
Reported by The Wrap desk from Insurance Capital Daily data pack. Published . Corrections
Net investment income rose to $211 million, but $47 million of investment losses left the combined investment result at $164 million.
AM Best estimated adjusted financial leverage at 52.2% excluding the contractual service margin at year-end 2025, or 15.3% including it.
The upgrade follows the group's second-largest U.S. medical liability position and its 2026 ProAssurance acquisition.
Pre-tax investment income rose 8.6% to a record $1.79 billion while Travelers' domestic renewal increases, excluding National Accounts, slowed to 0.9% from 4.3%.
Ategrity's $17.2 million investment loss cut net income, while Chubb's record $1.79 billion of investment income blunted catastrophe costs that more than doubled.
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