DECEMBER 20, 2022 09:15 AM (EST)
AM Best Assigns Credit Ratings to PartnerRe Insurance Solutions Bermuda Ltd.
|Dan Hofmeister, CFA, FRM, CAIA|
Senior Financial Analyst
+1 908 439 2200, ext. 5385
Steven Chirico, CPA
+1 908 439 2200, ext. 5087
Manager, Public Relations
+1 908 439 2200, ext. 5159
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
FOR IMMEDIATE RELEASE
OLDWICK - DECEMBER 20, 2022 09:15 AM (EST)
AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Credit Rating of “aa-” (Superior) to PartnerRe Insurance Solutions Bermuda Ltd. (PartnerRe Ins Solutions BM Ltd) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable. PartnerRe Ins Solutions BM Ltd is a newly added member of PartnerRe Ltd.
The ratings reflect PartnerRe Ins Solutions BM Ltd’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very strong business profile, and appropriate enterprise risk management.
PartnerRe Ins Solutions BM Ltd had historically assumed affiliated life business via a quota share. While this quota share will remain in effect, the company was recently licensed to expand into non-life lines of business. The company plans to expand into direct property/casualty insurance lines in the U.S. market, via partnerships with managing general agents. PartnerRe Ins Solutions BM Ltd benefits from implicit and explicit support of the greater PartnerRe organization and is fully integrated into the group’s operations.
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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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.