AM Best Assigns Credit Ratings to Beazley Bermuda Insurance Limited and Comments on All Beazley Group Ratings

LONDON--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Beazley Bermuda Insurance Limited (BBIL) (Bermuda). The outlook assigned to these Credit Ratings is stable.

The ratings reflect 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 ratings also factor in lift from BBIL’s ultimate parent, Beazley plc (Beazley), 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 its initial years of business.

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 and provide additional diversification over the long term.

Concurrently, following news on 4 February 2026 that Zurich Insurance Group’s offer to acquire Beazley is reportedly progressing, AM Best comments that its ratings of all Beazley companies are being closely monitored. The ratings will be further reviewed if and when a binding offer is accepted.

This press release relates to Credit Ratings 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.

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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