AM Best removes review and affirms financial strength rating of Brazil’s IRB
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AM Best removes review and affirms financial strength rating of Brazil’s IRB

Aisling Finn
10 October 2022
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IRB Brasil Re Sao Paulo.jpg

AM Best has removed from under review with negative implications and affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of ‘a-’ (excellent) of IRB-Brasil Resseguros (IRB).

The outlook changes come after the embattled carrier raised 1.2bn Brazilian reals ($230.5mn) in a restricted share offering to address capital-structure issues.

AM

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