Credit ratings agency AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Premia Reinsurance Ltd., Bermuda.
Premia Re operates in the non-life run-off market. The firm is a flagship reinsurer of the greater Premia Group, a global insurance and reinsurance group specialising in the property & casualty legacy sector.
According to AM Best, the ratings reflect Premia Re’s balance sheet strength, which has been assessed as very strong, its adequate operating performance, neutral business profile, and appropriate enterprise risk management.
AM Best commented, “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, prioritising quality over volume to ensure capital efficiency and long-term return on equity since it launched in 2017.”
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