A.M. Best affirms Brit Re’s rating

Brit Re affirmed as having a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent)

Brit Ltd (“Brit”) is pleased to announce that AM Best has affirmed its rating for Brit Re. 

The affirmed rating comes following the announcement of Brit Re’s strategy to drive significant expansion across property, casualty and specialty reinsurance as a full service Bermudian reinsurance platform.

In affirming Brit Re’s rating, AM Best assessed its balance sheet strength as “very strong” and noted this as being “supported by historically profitable underwriting results.”

In September, Brit announce the appointment Jonathan Stephenson to lead its Bermuda expansion while it also appointed Jacques Bonneau, formerly CEO and President of PartnerRe, to the Board of Brit Re as a Non-Executive Director in June. 

Martin Thompson, CEO Brit Group, commented: “We are pleased that AM Best has affirmed its rating as we begin our strategy to meaningfully grow Brit Re across property, casualty and specialty.”