A.M. Best Affirms Credit Ratings of Humboldt Re Limited

LONDON--()--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 Humboldt Re Limited (Humboldt Re) (Guernsey). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Humboldt Re’s strong risk-adjusted capitalisation, adequate risk management framework and experienced management team. Offsetting rating factors include the company’s underwriting concentration in natural catastrophe reinsurance, and the high level of dependency on Credit Suisse’s Insurance-Linked Strategies team. A.M. Best expects the company’s risk-adjusted capitalisation to remain at a strong level in 2017.

The rating action review was driven by regulatory requirements pursuant to an Employment Related Look Back Review because a former A.M. Best rating analyst participated in previous rating actions related to their current employer. The rating actions referenced are the assignment of the FSR of A- (Excellent) and the Long-Term ICR of “a-” with a stable outlook of Humboldt Re, published on Oct. 21, 2015, and the affirmation of these ratings on Nov. 3, 2016. The result of the Employment Related Look Back Review was that the ratings were not influenced by a conflict of interest.

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 Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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Contacts

A.M. Best
Rishwinder Grewal
Financial Analyst
+44 20 73970321
rishwinder.grewal@ambest.com
or
Salman Siddiqui, ACA
Associate Director, Analytics
+44 20 7397 0331
salman.siddiqui@ambest.com
or
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
or
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Contacts

A.M. Best
Rishwinder Grewal
Financial Analyst
+44 20 73970321
rishwinder.grewal@ambest.com
or
Salman Siddiqui, ACA
Associate Director, Analytics
+44 20 7397 0331
salman.siddiqui@ambest.com
or
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
or
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com