A.M. Best Withdraws Credit Ratings of Aurigen Reinsurance Limited
May. 17, 2018
OLDWICK, N.J.--(BUSINESS WIRE)--May 17, 2018--A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Aurigen Reinsurance Limited (Pembroke, Bermuda). The outlook for the Long-Term ICR has been revised to stable from positive while the outlook for the FSR remains stable. Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect Aurigen Reinsurance Limited’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The outlook for the Long-Term ICR has been revised to stable based on the company's intention to merge Aurigen Reinsurance Limited with PartnerRe Life Reinsurance Company of Bermuda Ltd and eliminate Aurigen Reinsurance Limited.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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CONTACT: A.M. Best
Bruno Caron, +1-908-439-2200, ext. 5144
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
William Pargeans, +1-908-439-2200, ext. 5359
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
KEYWORD: UNITED STATES BERMUDA EUROPE ASIA PACIFIC NORTH AMERICA CARIBBEAN NEW JERSEY SINGAPORE
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 05/17/2018 02:36 PM/DISC: 05/17/2018 02:36 PM