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.
Chubb Q2 Net Income Down 3.8% on ‘Overly Soft’ Large Account, E&S Property 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
OpenAI Models Hacked Another Company’s Systems by Mistake 
Gallagher’s RPS Acquires W.N. Tuscano Agency, a Pennsylvania MGA 
