AM Best Assigns Ratings To PartnerRe Solutions
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.. The outlook assigned to these Credit Ratings is stable. PartnerRe Ins Solutions BM Ltd is a newly added member of PartnerRe Ltd.
The ratings agency said, “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.”
