AM Best Affirms Credit Ratings of United Kingdom Mutual War Risks Association Limited
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of United Kingdom Mutual War Risks Association Limited (UK War Risks or the Association) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect UK War Risks balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
UK War Risks balance sheet strength is underpinned by its risk-adjusted capitalisation that is at the strongest level, as measured by Best s Capital Adequacy Ratio (BCAR). Offsetting balance sheet strength factors include the Association s small capital base and its dependence on reinsurance. UK War Risks cedes almost all of its underwriting risk to third-party reinsurers, retaining only a small de
AM Best Removes From Under Review With Positive Implications, Affirms Credit Ratings of Century Insurance Company (Guam) Limited
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AM Best Revises Outlooks to Negative for Reunion Re Compañia de Reaseguros S.A.
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of âbbbâ of Reunion Re Compañia de Reaseguros S.A. (Reunion Re) (Argentina). The outlooks of these Credit Ratings (ratings) have been revised to negative from stable.
The ratings reflect Reunion Reâs balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The revision of the outlooks to negative from stable reflects pressure on Reunion Reâs balance sheet driven by a more challenging macroeconomic environment in Argentina and volatility in reinsurance recoverables.
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries
May 7, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) May 7, 2021
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the operating subsidiaries of Everest Re Group, Ltd. (Bermuda) (collectively referred to as Everest). Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” of Everest Re Group, Ltd. [NYSE: RE] and Everest Reinsurance Holdings, Inc. (Delaware). Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of Everest Reinsurance Holdings, Inc. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Downgrades Credit Ratings of James River Group Holdings, Ltd. and Subsidiaries
May 7, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) May 7, 2021
AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” from “a” of the rated operating subsidiaries of James River Group Holdings, Ltd. (JRG Holdings) [NASDAQ: JRVR]. In addition, AM Best has downgraded the Long-Term ICR to “bbb-” from “bbb” of JRG Holdings. The outlook of these Credit Ratings (ratings) is negative. JRG Holdings is domiciled in Pembroke, Bermuda, while its subsidiaries are based in Pembroke, Richmond, VA, and Raleigh, NC. (See below for a detailed listing of the subsidiaries.)
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