Ratings Recap: Sompo; Montpelier Re
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa-” of Sompo Japan Insurance Inc. The outlook for the FSR is stable, and the outlook for the ICR has been revised to positive from stable. “The ratings reflect Sompo Japan’s strong improvement in risk-adjusted capitalization, stable operating performance and diverse and efficient distribution channels,” said Best.
A.M. Best Co. has commented that the issuer credit rating (ICR) of “bbb-” and all debt ratings of Bermuda-based Montpelier Re Holdings Ltd. remain unchanged following the announcement that it has formed Lloyd’s Syndicate 5151 and will subsequently enter into initiatives that are expected to increase Montpelier Re’s distribution capabilities (See IJ web site June 21). Best also said the financial strength rating (FSR) of “A-” (Excellent) and the ICR of “a-” of Montpelier Reinsurance Ltd. is unchanged and the outlook remains stable.
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