LONDON--(BUSINESS WIRE)--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.
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