AM Best has withdrawn the ratings of Arden Re. The reinsurer, whose insurance and reinsurance segments were sold to Goldman Sachs, had financial strength and issuer credit ratings of “A-“ and “a-“ respectively. Both ratings have been affirmed and removed from .
According to AM Best the sale of two Arden Re segments—its insurance and reinsurance operations to Goldman Sachs and a Zurich-based credit and surety operation to Arch Capital—left the company a much smaller entity with a reduced risk profile. The limited business profile offset excellent risk-adjusted capitalisation, overall favourable operating performance and solid enterprise risk management capabilities.
Arden Re continues to assume the business underwritten by its Lloyd’s affiliate, Atrium 5 Limited, under an existing quota share arrangement that remains in force.
AM Best, ratings, Arden Re