A.M. Best Co. has removed from under review with developing implications and affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of Validus Re Americas, Ltd. (Validus Re Americas) (Bermuda) and its affiliate, Validus Re Europe Limited (Ireland). Subsequently, A.M. Best has withdrawn both ratings at the company’s request to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect Validus Re Americas’ strong risk-adjusted capitalization, favorable underwriting performance and experienced management team. Offsetting these positive rating factors is the potential for adverse reserve development as the remaining contracts run off. However, reserves have been developing favorably.
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