AM Best Assigns Preliminary Credit Assessment to Beazley Bermuda Insurance Limited

LONDON--(BUSINESS WIRE)--AM Best has assigned a Preliminary Credit Assessment (PCA) to Beazley Bermuda Insurance Limited (BBIL) (Bermuda) with a Financial Strength Assessment of A pca (Excellent) and a Long-Term Issuer Credit Assessment of “a+” pca (Excellent). The outlook assigned to the PCA is stable.

The PCA reflects BBIL’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. The PCA also factors in lift from BBIL’s ultimate parent, Beazley plc, reflecting the strategic importance of BBIL to the group.

BBIL’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which is expected to be at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), as well as the understanding that BBIL will follow Beazley plc’s prudent reserving and investment strategy. BBIL’s risk-adjusted capitalisation will be supported by a large capital base (USD 531 million at the start of 2026).

BBIL is expected to achieve an adequate operating performance assessment over the medium term, supported by profitable, albeit potentially somewhat volatile, underwriting results despite the softening pricing environment. Investment income is expected to contribute meaningfully to BBIL’s overall earnings, particularly in the initial years of business.

Beazley plc has a well-established profile, with a strong franchise as an internationally recognised insurance group operating principally at Lloyd’s. BBIL will enable the group to widen its footprint and gain access to Bermuda’s reinsurance market. The company’s portfolio is expected to complement that of Beazley plc and provide additional diversification over the long term.

This press release relates to Preliminary Credit Assessments that have been published on AM Best’s website. For all assessment information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual assessments 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 and Assessment 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.

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