Standard & Poor's (S&P) has followed AM Best in upgrading the financial strength rating of Validus Re from A- to A.
The ratings agency complimented Validus Group for its relatively strong operating performance since its inception and its comparatively low volatility. It also hailed Validus for its success in posting a sub-100 percent combined ratio in 2011 despite record catastrophe losses.
AM Best upgraded Validus Re from A- to A in February, citing the Bermudian reinsurer's "solid risk-adjusted capitalisation"...
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