Starr’s Peter Bilsby welcomes AM Best upgrade for acquired IQUW Re platform

Starr Re Bermuda, formerly IQUW Re Bermuda, has received upgraded ratings from AM Best following its acquisition by Starr Insurance & Reinsurance in March 2026, with the agency highlighting the company’s strongest level of risk-adjusted capitalisation and consistent underwriting performance.

AM Best has confirmed the financial strength Rating as A (excellent), from a- (excellent), and the long-term issuer credit Rating to “a+” (excellent) from “a-” (excellent) for IQUW Re Bermuda (Starr Re) (Bermuda) with a positive outlook.

In addition, AM Best has removed from under review with positive implications and upgraded the long-term issue credit rating to “bbb+” (good) from “bbb-” (good) on $170 million senior unsecured notes, due 2035, issued by IQUW Holdings Bermuda (IQUW). The outlook assigned to this rating is positive.  

AM Best credited Starr Re’s balance sheet strength for the rating, citing adequate operating performance, neutral business profile and appropriate enterprise risk management. Starr Re’s ratings, AM Best said, are underpinned by its strongest level of risk-adjusted capitalisation, supported by full earnings retention and good underwriting performance in recent years.

Peter Bilsby, president of international at Starr, said: “AM Best’s A rating is an important endorsement of our Bermuda platform. It reflects our capital position, disciplined underwriting, and long-term focus on building a stable, globally diversified underwriting organisation. This enhancement underscores Starr’s ability to provide meaningful capacity and dependable long-term partnerships, supported by responsive, empowered underwriting teams.”

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