AM Best places IQUW Re credit ratings under review with positive implications

AM Best has placed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of IQUW Re Bermuda Limited (IQUW Re) (Bermuda) under review with positive implications.

Additionally, the credit rating agency has also placed under review with positive implications the Long-Term Issue Credit Rating of “bbb-” (Good) on $170 million senior unsecured notes, due 2035, issued by IQUW.

IQUW Re is a wholly owned subsidiary of IQUW Holdings Bermuda Limited (IQUW), the ultimate holding company of the IQUW group.

This rating action comes after Starr Insurance & Reinsurance Limited declared its definitive agreement to acquire 100% of the IQUW group.

“The under review with positive implications status reflects the potential financial and operational benefit that IQUW may derive from being part of a significantly larger insurance organisation, which has greater financial strength,” AM Best stated.

AM Best will keep the ratings under review with positive implications subject to the completion of the transaction and a thorough assessment of IQUW’s upcoming business plan.

Starr’s acquisition of IQUW Group, which includes its reinsurance platform IQUW Re Bermuda, aims to combine the firm’s specialty insurance and reinsurance expertise with IQUW Group’s strong market presence and complementary portfolio

The transaction is expected to close in the first half of 2026, and is still subject to regulatory approvals and closing conditions. Both companies will continue to operate independently until the deal closes.