QBE Re Group had its FSR of “A” affirmed by A.M. Best Co. The rating applies to QBE Reinsurance Corp. (formerly Sydney Reinsurance Corp.) and its reinsured subsidiary, QBE Insurance Corp.
The rating highlights the group’s excellent capitalization, solid liquidity position, historically strong operating performance and strategic role within the QBE Insurance Group.
The positive rating factors are derived from the group’s diversified risk portfolio, its ability to produce business opportunities through its niche market strategy, solid balance sheet and ongoing parental commitment of offering both reinsurance and capital support. The rating also reflects the group’s strengthened underwriting team, which has allowed QBE Re group to keep market momentum via growing its primary insurance operations.
Partially offsetting these strengths are the group’s recent deterioration in underwriting performance and aggressive growth strategies in new business segments.
Topics Reinsurance
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