A.M. Best Affirms Ratings Of Catlin Group
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Catlin Insurance Company Limited (CICL) (Bermuda), Catlin Insurance Company (UK) Ltd. (Catlin UK) (United Kingdom) and Catlin Re Switzerland Ltd. (Catlin Re) (Switzerland).
Additionally, A.M. Best has affirmed the FSR of A (Excellent) and ICR of “a+” of Lloyd’s Syndicate 2003 (United Kingdom), which is managed by Catlin Underwriting Agencies Limited. A.M. Best also has affirmed the debt rating of “bbb” on USD 600 million preferred stock issued by CICL.
Concurrently, A.M. Best has affirmed the ICR of “bbb” and the debt ratings of “bbb-” on USD 27 million subordinated floating rate notes and EUR 7 million subordinated floating rate notes issued by Catlin Underwriting (CU) (United Kingdom).
At the same time, A.M. Best has affirmed the ICR of “bbb” of Catlin Group Limited (CGL) (Bermuda), the ultimate parent company of the Catlin group. The outlook for all ratings remains stable.
