Amlin Bermuda Limited Rated A2 By Moody's
21 December 2005
Amlin plc (“Amlin”) today confirmed that its new Bermuda reinsurance operation has been assigned an A2 insurance financial strength rating (IFSR) with a stable outlook by Moody’s.
The rating rationale explained that Amlin Bermuda’s “good access to catastrophe and other reinsurance business via syndicate 2001 (A1 IFSR) which has significantly out-performed in recent years”, offset the risks normally associated with start-up operations.
Separately, Moody’s affirmed Amlin’s Syndicate 2001 IFSR rating of A1 and Amlin plc‘s subordinated debt rating of Baa3, both with stable outlook.
Richard Hextall, Amlin’s Finance Director commented;
“Moody’s have rated Syndicate 2001 for a number of
years and we are pleased that they have awarded this rating to our
Bermuda business.”
