AM Best Assigns Credit Ratings To Beazley
AM Best has assigned a Financial Strength Rating of A [Excellent] and a Long-Term Issuer Credit Rating of “a+” [Excellent] to Beazley Bermuda Insurance Limited [BBIL] [Bermuda]. The outlook assigned to these Credit Ratings is stable.
The ratings agency said, “The ratings reflect BBIL’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in lift from BBIL’s ultimate parent, Beazley plc [Beazley], reflecting the strategic importance of BBIL to the group.
“BBIL’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which is expected to be at the strongest level, as measured by Best’s Capital Adequacy Ratio [BCAR], as well as the understanding that BBIL will follow Beazley plc’s prudent reserving and investment strategy. BBIL’s risk-adjusted capitalisation will be supported by a large capital base [USD 531 million at the start of 2026].
“BBIL is expected to achieve an adequate operating performance assessment over the medium term, supported by profitable, albeit potentially somewhat volatile, underwriting results despite the softening pricing environment. Investment income is expected to contribute meaningfully to BBIL’s overall earnings, particularly in its initial years of business.
“BBIL will enable the group to widen its footprint and gain access to Bermuda’s reinsurance market. The company’s portfolio is expected to complement that of Beazley and provide additional diversification over the long term.
“Concurrently, following news on 4 February 2026 that Zurich Insurance Group’s offer to acquire Beazley is reportedly progressing, AM Best comments that its ratings of all Beazley companies are being closely monitored. The ratings will be further reviewed if and when a binding offer is accepted.”
