AM Best Comments on Credit Ratings of Starr International Company, Inc.’s Insurance Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the insurance subsidiaries of Starr International Company, Inc. (SICO) (Switzerland) remain unchanged following its announced acquisition of the IQUW group. The outlook of these Credit Ratings (ratings) is stable. These ratings apply to the members of Starr International Group (SIG) (New York, NY) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda), collectively referred to as Starr. (See below for a detailed listing of the companies and ratings.)

Starr announced on Oct. 29, 2025, that it has entered into a definitive agreement to acquire 100% of the IQUW group. The transaction is expected to close in the first half of 2026 and is subject to regulatory approvals and customary closing conditions. This acquisition expands Starr’s presence in the London wholesale market and bolsters its international business unit. While the final financial figures will be determined prior to close, AM Best has reviewed prospective financials and determined that Starr has ample liquidity and financial flexibility to support the transaction without impairing its balance sheet strength. Additionally, IQUW has been a strong performer in the past, which could aid Starr in future rating cycles, as synergies and scale are recognized within the greater group. AM Best will continue to monitor the transaction and respond if any of the initial indications change materially.

The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) remain unchanged with stable outlooks for the following members of SIG:

• Starr Indemnity & Liability Company
• Starr Surplus Lines Insurance Company
• Starr Specialty Insurance Company

The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) remain unchanged with stable outlooks for the following members of SIRL:

• Starr Property & Casualty Insurance (China) Company, Limited
• Starr International Insurance (Asia) Limited
• Starr International Insurance (Singapore) Pte. Ltd
• Starr International (Europe) Limited
• Starr International Insurance (Switzerland) AG
• Starr Europe Insurance Limited

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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