AM Best has assigned an A+ financial strength rating of A+ (Superior) to PartnerRe Insurance Solutions Bermuda Ltd. (PartnerRe Ins Solutions BM Ltd), a newly added member of PartnerRe Ltd. The ratings outlook is stable.
According to an AM Best announcement, PartnerRe Ins Solutions BM Ltd had historically assumed affiliated life business via a quota share, but the company was recently licensed to expand into non-life lines of business as well.
The company plans to expand into direct property/casualty insurance lines in the U.S. market, via partnerships with managing general agents.
Best said PartnerRe Ins Solutions BM Ltd. benefits from implicit and explicit support of the greater PartnerRe organization and is fully integrated into the group’s operations.
The ratings reflect PartnerRe Ins Solutions BM Ltd.’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very strong business profile, and appropriate enterprise risk management.
Source: AM Best
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