By NEIL HARTNELL

Tribune Business Editor

RoyalStar Assurance's managing director yesterday attributed the insurer's continued top rating to an ever-expanding capital base, with 70 per cent of the $30 million profits earned over the past eight years kept on the balance sheet as retained earnings.

Steve Watson, speaking to Tribune Business after A. M. Best reaffirmed its A- (Excellent) financial strength rating, said that since the current owners acquired the general insurance carrier in late 2002, the company had grown its capital base from an initial $10 million to its current $40 million.

Describing 2010 as a "good, not great year" for RoyalStar, as gross written premium i ...

Click here to read more at The Tribune