AM Best affirms excellent ratings for Fortitude Re

Rating agency AM Best has affirmed its A (Excellent) financial strength rating (FSR) and of Fortitude Reinsurance Company. Both ratings have a stable outlook. It also gave an FSR of A (Excellent) to Fortitude International Reinsurance (FIRL).

Both businesses are domiciled in Bermuda.

“The ratings reflect Fortitude Re’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management,” the agency’s analysis reads.

“The assigned ratings of FIRL reflect its strategic importance to the greater Fortitude Re operations. FIRL will support the group’s ongoing international expansion, and its ratings benefit from both implicit and explicit support from the group’s parent holding company, FGH Parent, LP.”