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Best’s News & Research Service - February 03, 2021 01:21 PM (EST)

AM Best Assigns Credit Ratings to Kuvare Life Re Ltd.

  • February 03, 2021 01:21 PM (EST)
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Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Kuvare Life Re Ltd. (Kuvare Re) (Bermuda). Kuvare Re is a subsidiary of Kuvare UK Holdings Limited. The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Kuvare Re’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Kuvare Re is a life and annuity reinsurer registered in Bermuda. The company focuses on providing underwriting and reinsurance solutions to the life and annuity insurance marketplace.

The ratings reflect Kuvare Re’s capitalization level, measured on absolute terms and risk-adjusted terms, including Best’s Capital Adequacy Ratio (BCAR). The company benefits from good quality of capital and asset/liability management capabilities. The bulk of its portfolio of assets is owned indirectly through reinsurance arrangements. The parent supports Kuvare Re by providing capital and does not have any material debt.

Kuvare Re plays mainly in the fixed deferred annuity space. It also assumes structured settlement liabilities. Transactions are lumpy by nature; top line and volatility trends are not yet observable, but the ability to write business and disciplined underwriting standards support its adequate operating performance. The company identifies its risks well and uses a robust defense ERM model.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

Reinsurers United States Life Insurers Press Release A.M. Best Rating Services, Inc. Insurance Bermuda Best's Credit Rating Action Caribbean

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