Captive Intelligence

AM Revises Outlook for State Street Captive

AM Best upgraded the outlook for State Street’s captive insurer, Federated Underwriting Company, from stable to positive. The agency also reaffirmed the captive’s financial strength rating at A‑ (excellent) and its long‑term issuer credit rating at a‑ (excellent). Federated Underwriting was established in 2019 as part of State Street’s alternative risk financing strategy after insurance market pricing surged. The rating lift signals strong capitalisation and operational performance within the captive insurance sector.