AM Best Places Credit Ratings of Genesis Global Insurance (SAC) Ltd. Under Review With Developing Implications

MEXICO CITY--(BUSINESS WIRE)--AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Genesis Global Insurance (SAC) Ltd. (Genesis) (Nassau, Bahamas). The rating actions come amid the ongoing events of a prospective capital contribution, as well as the development of Genesis' reinsurance program and the resulting impact on the company’s balance sheet strength assessment. The ratings will remain under review pending AM Best receiving closing documents and further discussions with the management of Genesis.

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