MS Reinsurance Earns Rating Upgrades
MS Reinsurance receives rating upgrades from AM Best and S&P Global Ratings, reflecting improved financial strength and operational performance.
A spokesperson said, “MS Reinsurance, the global reinsurer, announced today that the company has received rating upgrades from AM Best and S&P Global Ratings.
“On Friday, April 26, 2024, AM Best announced it had upgraded the company’s Financial Strength Rating to A+ [Superior] from A [Excellent] and the Long-Term Issuer Credit Rating to “aa-” [Superior] from “a” [Excellent].
“According to AM Best, the upgrades reflect the financial strength, operational performance, business profile and risk management practices inherent in MS Reinsurance’s business strategy and acknowledges the explicit support received from the company’s shareholder Mitsui Sumitomo Insurance Company, Limited [MSI].
“On Monday, April 29, 2024, S&P announced it had also raised the company’s Financial Strength Rating to A+ from A, and affirmed its A issuer credit rating.”
MS Reinsurance CEO, Robert Wiest commented, “We are very pleased that AM Best and S&P have acknowledged MS Reinsurance’s strong financial and business profile with these financial strength rating upgrades.
“These decisions to lift our ratings supports our strategy focused on diversification and portfolio optimization, and acknowledges our successful client-focused approach. The upgrades also reflect the significant remedial and transformation work that the company has undertaken in recent years.
“With these improved ratings,” he concluded, “MS Reinsurance is even better positioned as a reliable partner, providing the enduring support and security that our business partners are looking for.”
