Validus Re upgraded to A by AM Best
AM Best has rewarded Validus Re's performance compared to its peers by upgrading its financial strength rating from A- to A, and its issuer credit rating (ICR) from a- to a.
The action reflects the Bermudian' reinsurer's "solid risk-adjusted capitalisation" and "favourable operating performance" since its inception in the aftermath of Hurricane Katrina, said the ratings agency.
AM Best added that Validus Re's experienced management team and "excellent enterprise risk management programme and prudent operating strategies" were also factors in...
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