MEXICO CITY--(BUSINESS WIRE)--Second paragraph, first sentence of release should read: On June 8, 2018, the Cayman Islands Monetary Authority licensed Barents Re as a Class D Insurer, successfully completing the change of domicile from Panama to the Cayman Islands (instead of On June 15, 2018 xxx).
The corrected release reads:
A.M. BEST COMMENTS ON CREDIT RATINGS OF BARENTS RE REINSURANCE COMPANY, INC. AND SUBSIDIARY AFTER DOMICILE MOVED TO CAYMAN ISLANDS
A.M. Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Barents Re Reinsurance Company, Inc. (Barents Re) and its subsidiary, Barents Reinsurance S.A. (Barents Re Lux) (Luxembourg), remain unchanged following the re-domiciling of Barents Re to the Cayman Islands. The outlook of these Credit Ratings (ratings) remains stable.
On June 8, 2018, the Cayman Islands Monetary Authority licensed Barents Re as a Class D Insurer, successfully completing the change of domicile from Panama to the Cayman Islands. A.M. Best has determined that the effect of this change does not alter its view of the company’s or its subsidiary’s ratings.
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