Articles from AM Best

Over the past year, Best’s Review readers have been most interested in the following insurance news coverage:

AM Best has placed under review with developing implications the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Aviva Insurance Limited (AIL) (United Kingdom). AIL is a wholly owned subsidiary of Aviva plc (Aviva) (United Kingdom), the non-operating holding company of the Aviva group.

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to Min Xin Insurance Company Limited (MXIC) (Hong Kong). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Gaviota Re S.A. (Gaviota) (Luxembourg). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to C++ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b+” (Marginal) from “bb-” (Fair) of Ghana Reinsurance PLC (Ghana Re) (Ghana). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Irwell Insurance Company Limited (Irwell) (United Kingdom). The outlook of the FSR is stable.

December’s Best’s Review includes the following exclusive rankings:

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Union Insurance Company P.J.S.C. (Union) (United Arab Emirates).

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to The Japan Ship Owners’ Mutual Protection & Indemnity Association (Japan P&I or the Club) (Japan). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb” (Good) from “a-” (Excellent) of M&C General Insurance Company Limited (M&C General) (St. Lucia). The outlooks assigned to these Credit Ratings (ratings) is stable.

AM Best and Best’s Insurance Professional Resources have released the latest installment of the Best's Insurance Law Podcast series, which examines timely insurance issues from a legal perspective.

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Cowen Reinsurance S.A. (Cowen Re) (Luxembourg).

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of RoyalStar Assurance Ltd. (RSA) (Nassau, The Bahamas). The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B (Fair) and the Long-Term Issuer Credit Ratings to “b+” (Marginal) from “bb” (Fair) of Blue Cross and Blue Shield of Vermont (BCBSVT) and its subsidiary, The Vermont Health Plan, LLC, collectively known as Blue Cross and Blue Shield of VT Group (BCBSVT Group). In addition, AM Best has maintained the under review with negative implication status for these Credit Ratings (ratings).

AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating of B++ (Good) of Physicians Health Plan of Northern Indiana, Inc. (PHP) (Fort Wayne, IN). The outlook assigned to these Credit Ratings (ratings) is positive.

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a” (Excellent) on the $1.654 billion, 6.00% Series Hannover, No. 1 variable funding credit-linked note (note), due Oct. 1, 2044, issued by Weston2044 LLC (Weston2044), a Delaware limited liability company (issuer). The outlook assigned to the Credit Rating (rating) is stable.

Viewers can now access highlights from the AM Best-hosted webinar “Loss Trends in Cyber Liability Insurance,” sponsored by Munich Re US.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) of Colina Insurance Limited (Colina). In addition, AM Best has affirmed the Long-Term ICR of “bb+” (Fair) of Colina Holdings Bahamas Limited (CHBL). Both companies are domiciled in Nassau, Bahamas. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of the non-operating holding company, Legal & General Group Plc (L&G) (United Kingdom). Concurrently, AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of L&G’s rated subsidiaries (listed below). At the same time, AM Best has upgraded the FSR to A+ (Superior) from A (Excellent) and the Long-Term ICR to “aa-” (Superior) from “a” (Excellent) of Legal & General Reinsurance Company No. 2 Limited (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Nova Casiopea Re S.A. (NCRe) (Luxembourg). The outlook of these Credit Ratings (ratings) is stable.

AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of a+ (Excellent) of Louisiana Workers’ Compensation Corporation (LWCC) (Baton Rouge, LA) are unchanged following the Dec. 18, 2024, announcement that it will acquire all of the outstanding shares of Prescient National Insurance Company (PNIC) (Charlotte, NC). The transaction is an all-cash transaction, which has received regulatory approval and is expected to close by year-end 2024.

AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Prescient National Insurance Company (PNIC) (Charlotte, NC), are unchanged following the Dec. 18, 2024, announcement that all outstanding shares of Prescient Holdings, LLC (Charlotte, NC) will be acquired by Louisiana Workers’ Compensation Corporation (LWCC) (Baton Rouge, LA). The outlook of PNIC’s Credit Ratings (ratings) is stable.

Video playback is available for a complimentary webinar titled, “Stronger Together: How Combining Credit and Public Records Data Can Yield Sharper Views of Insurance Risk,” sponsored by LexisNexis® Risk Solutions. Access it here.

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of National Insurance Company (NIC) (Jordan). The outlook of these Credit Ratings (ratings) is stable.

AM Best is maintaining a stable outlook on Malaysia’s non-life insurance segment, citing sustained underwriting and pricing discipline, along with expected premium growth backed by regulatory reforms designed to increase insurance penetration.

AM Best has removed under review with negative implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Centerline Insurance Company (Centerline) (headquartered in Knoxville, TN). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Conduit Reinsurance Limited (Conduit Re) (Bermuda).

The pace of insurance borrowings from the Federal Home Loan Bank (FHLB) slowed last year following a spike when many U.S. life/annuity insurance companies took advantage of the lower cost of borrowing to capitalize on high interest rates and new money yields, according to a new AM Best report.

AM Best is maintaining its outlook for Germany’s non-life insurance segment at negative.

The December issue of Best’s Review focuses on insurance auditors and actuaries:

AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) to Casualty & General Insurance Company (Europe) Limited (CGICE) (Gibraltar). The entity is a subsidiary of CG Holdings (Gibraltar) Limited (CGH), the non-operating holding company of the group. The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Nippon Life Insurance Company (Nissay) (Japan) remain unchanged following the announcement of the acquisition of Resolution Life Group Holdings Ltd. (Resolution Life) on 11 December 2024.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Al Fujairah National Insurance Company PSJC (AFNIC) (United Arab Emirates) [UAE]. The outlook of these Credit Ratings (ratings) is negative.

AM Best has maintained its stable outlook on Japan’s life insurance market segment, citing in part the growth in premium income and stable core profits that are supported by higher levels of investment income, according to a new AM Best report.

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aa+” (Superior) of Chubb Seguros Panama S.A. (Chubb Panama) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Abu Dhabi National Takaful Company P.S.C. (ADNTC) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of the grouped subsidiaries of Chubb Limited (Chubb) (Zurich, Switzerland) [NYSE: CB]. These include Chubb’s rated U.S., Canada, Bermuda, Europe and Panama-based insurance and reinsurance subsidiaries (collectively Chubb Group of Insurance Companies, or Chubb Group). Concurrently, AM Best has affirmed the Long-Term ICRs of “a+” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of Chubb Limited and Chubb INA Holdings LLC (Delaware). In addition, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Combined Insurance Company of America (Chicago, IL) and Combined Life Insurance Company of New York (Latham, NY) (together known as the Combined companies). AM Best also has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of ACE Life Insurance Company (ACE Life) (Stamford, CT). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Chubb Life Insurance New Zealand Limited (Chubb Life NZ) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. (Please see the link below for a detailed listing of the companies and ratings.)

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of MS Amlin Insurance SE (MS AISE) (Belgium). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb+” (Good) and the India National Scale Rating (NSR) of aaa.IN (Exceptional) of The New India Assurance Company Limited (New India) (India). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to American Atlantic Assurance Co. Ltd. (Malta). The outlook assigned to these Credit Ratings (ratings) is negative.

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) of Bao Minh Insurance Corporation (BMI). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to positive from stable for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Starr International Insurance (Thailand) Public Company Limited (SIIT) (Thailand).

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Transmonde Services Insurance Company Limited (Transmonde) (Hamilton, Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Tune Protect Re Ltd. (TPR) (Malaysia). In addition, AM Best has revised the Long-Term ICR outlook to stable from positive, while the outlook of the FSR is stable.

Best’s Review has launched AM Best’s Bookstore, a digital location for information about recently published insurance-focused books that have been featured in the magazine.

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of Talcott Resolution Life Insurance Company, Talcott Life Re, Ltd. (Bermuda) and Talcott Resolution Life and Annuity Insurance Company. These companies are domiciled in Hartford, CT and collectively referred to as Talcott Financial Group (TFG). Additionally, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of Talcott Resolution Life, Inc. (Delaware), along with its Long-Term Issue Credit Ratings (Long-Term IRs). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the Long-Term IRs).

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Jackson National Life Insurance Company (JNL), its wholly owned subsidiary, Jackson National Life Insurance Company of New York, and its direct parent, Brooke Life Insurance Company. These companies together are referred to as Jackson National Group (JNG). The outlook of the FSR is stable, while the outlook of the Long-Term ICRs is positive. Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a” (Excellent) on the notes issued under JNL’s funding agreement-backed securities program, and the Long-Term IR of “bbb+” (Good) of JNL’s surplus notes.

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Atlanta Life Insurance Company (ALIC) (Atlanta, GA). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Spirit Insurance Company (Spirit) (Colchester, VT) and Radius Insurance Company (Radius) (Cayman Islands). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Great American Insurance Company and its pooling affiliates, collectively referred to as Great American Insurance Companies (Great American). Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of American Financial Group, Inc. (AFG) [NYSE: AFG]. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Pacífico Compañía de Seguros y Reaseguros S.A. (PCS) (Lima, Perú). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Oceanview Life and Annuity Company (Oceanview Life) (headquartered in Denver, CO) and its reinsurer affiliate, Oceanview Reinsurance Ltd. (OVRe) (Hamilton, Bermuda). The outlook of these Credit Ratings (ratings) is stable. In addition, AM Best has assigned an FSR of A (Excellent) and a Long-Term ICR of “a” (Excellent) to Oceanview Secure Reinsurance Ltd. (OSL) (Cayman Islands). The outlook assigned to this rating is stable. These companies are collectively referred to as Oceanview.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re Reinsurance Company, Inc. (Barents Re) (Cayman Islands) and its affiliate, Barents Reinsurance S.A. (Barents Re Lux) (Luxembourg). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of the core Blue Cross Blue Shield (BCBS)-branded insurance subsidiaries of Elevance Health, Inc. (Elevance) (Indianapolis, IN) [NYSE: ELV], as well as its life insurance subsidiaries. These companies collectively are referred to as Anthem Health. At the same time, AM Best has affirmed the Long-Term ICR of “bbb+” (Good), the Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of Elevance and the Long-Term IR on the existing surplus notes of Anthem Insurance Companies, Inc. (Indianapolis, IN).

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to QBE Capital (Global) Ltd. (QBE Capital Global) (Bermuda) and its immediate parent, QBE Capital Ltd. (QBE Capital) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable. QBE Capital Global and QBE Capital are subsidiaries of QBE Insurance Group Limited (QBE) (Australia), the non-operating holding company of the QBE group of companies.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Enel Reinsurance - Compagnia di Riassicurazione S.p.A. (Enel Re) (Italy), a captive of Enel S.p.A. (Enel), a multinational electric utility company based in Italy. The outlook of these Credit Ratings (ratings) is stable.

AM Best has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bb+” (Fair) of Provident Insurance Corporation Limited (PICL) (New Zealand). The outlook of these Credit Rating (ratings) has been revised to stable from positive.

AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “a” (Excellent) of Caring Communities Insurance Company (CCIC) (Cayman Islands). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NEWGT Reinsurance Company, Ltd. (NEWGT) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Oregon Mutual Insurance Company and Western Protectors Insurance Company, which are domiciled in McMinnville, OR and collectively referred to as Oregon Mutual Group.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Lonpac Insurance Bhd (Lonpac) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Qianhai Reinsurance Co., Ltd. (QHR) (China). The outlook of these Credit Ratings (ratings) is stable.

Students from the University of Akron, Florida State University and the UW-Madison – Wisconsin School of Business have been selected as finalists for AM Best's 2025 Student Challenge competition, which gives undergraduate and graduate students the opportunity to develop innovative solutions for risk management and insurance.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Brit Reinsurance (Bermuda) Limited (Brit Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of UPMC Health Plan, Inc. and its affiliates: UPMC For You, Inc., UPMC Health Network, Inc., UPMC Health Coverage, Inc., UPMC Health Options, Inc. and Community Care Behavioral Health Organization. Collectively, the group is referred to as UPMC Health Insurance Group (UPMC Health Plans).

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Sapphire Reinsurance Company (Sapphire) (Cayman Islands). The outlook of these Credit Ratings (ratings) is stable.

AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries. Concurrently, AM Best has upgraded the Long-Term Issue Credit Ratings (Long-Term IRs) of debt instruments issued or guaranteed by Generali. The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.)

The U.S. life/annuity industry reported a 31% decline in net income during the first nine months of 2024 compared with the same prior-year period, driven largely by total expenses for the industry growing by 8.8%, according to a new AM Best report.

New European captive domiciles are seeing growth in company formations, including redomicilations from other jurisdictions, according to new analysis from AM Best.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fenchurch General Insurance Company (Fenchurch) (Toronto, Canada). The outlook assigned to these Credit Ratings (ratings) is stable.

Following two years of unprofitable but improving results, the U.S. nonstandard auto insurance segment has notched a slight profit for the first half of 2024, according to a new AM Best report.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) for the members of Corebridge Financial (Corebridge). The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.)

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of American International Group, Inc.’s (AIG) property/casualty (P/C) insurance subsidiaries (collectively referred to as AIG PC). At the same time, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of AIG (headquartered in New York, NY) [NYSE: AIG]. The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.)

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Worldwide Medical Assurance, Ltd. Corp. (WWMA) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Orion Reinsurance (Bermuda) Ltd. (Orion Re) (Hamilton, Bermuda). The outlook of these Credit Ratings (ratings) is stable.