AM Best Assigns Credit Ratings to Premia Reinsurance Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) of Premia Reinsurance Ltd. (Premia Re) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Premia Re’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Premia Re has been operating in the non-life runoff market. The company is a flagship reinsurer of the greater Premia group, a global insurance and reinsurance group specializing in the property/casualty legacy sector. As a dedicated legacy reinsurer, Premia maintains a consistently active pipeline of potential opportunities. However, true to its selective and capital-disciplined approach, the group typically completes only a limited number of meaningful transactions each year, prioritizing quality over volume to ensure capital efficiency and long-term return on equity since it launched in 2017.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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