Following its rating action on the parent company, Bermuda-based Flagstone Reinsurance Limited (See IJ web site Dec. 18), A.M. Best Co. has assigned a financial strength rating (FSR) of “A”- (Excellent) and an issuer credit rating (ICR) of “a-” to its Swiss-based subsidiary Flagstone Reassurance Suisse SA. The outlook for both ratings is stable.
“Flagstone Reassurance has been capitalized with CHF 110 million ($ $90 million) with Flagstone providing reinsurance support,” Best noted. “Through this local European presence, Flagstone intends to be in a position to closely follow and respond effectively to the changing needs of the various European insurance markets.”
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