AM Best confirms credit ratings of Fortitude Reinsurance Company Ltd., assigns credit ratings to Fortitude International Reinsurance Ltd.
OLDWICK, NJ–(BUSINESS WIRE)–AM Best Affirmed Fortitude Reinsurance Company Ltd’s Financial Strength Rating (FSR) of A (Excellent) and Issuer Long Term Credit Rating (Long ICR) of “a” (Excellent). (FRL). The outlook for these Credit Ratings (ratings) is stable. At the same time, AM Best has assigned an FSR of A (Excellent) and a long-term ICR of “a” (Excellent) to Fortitude International Reinsurance Ltd. (FIRL). The outlook attributed to these ratings is stable. FRL and FIRL are domiciled in Bermuda and collectively referred to as Fortitude Re.
The ratings reflect the strength of Fortitude Re’s balance sheet, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate management of business risks.
The ratings assigned to FIRL reflect its strategic importance to Fortitude Re’s larger operations. FIRL will support the group’s continued international expansion, and its ratings have the implicit and explicit support of the group’s parent company, FGH Parent, LP.
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