A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of CRC (Bermuda) Reinsurance Limited (CRC), a direct wholly-owned subsidiary of Canada’s Fairfax Financial Holdings Limited. The outlook for both ratings is stable. “The ratings and outlook reflect CRC’s adequate capitalization, favorable operating and underwriting performance and relatively modest risk profile,” said Best. The majority of premiums written by CRC are ceded from the subsidiaries of Canada’s Northbridge Financial Corporation, a majority owned subsidiary of Fairfax.
Was this article valuable?
Here are more articles you may enjoy.
Europe’s Insurers Cut Coverage of Weather Losses, Report Says 
Florida Supreme Court Approves Board Certification in Insurance Law 
AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says 
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules 
