Comment on AM Best ratings outlook: AM Best raises Conduit Re's outlook to "positive" and affirms ratings
CHL, the ultimate parent company of Conduit Re, a multi-line Bermuda-based reinsurance business, today welcomes the news that AM Best has affirmed Conduit Re's Financial Strength Rating of "A-" (Excellent) and Long-Term Issuer Credit Rating of "a-" (Excellent) and raised the ratings outlook to "positive" from "stable".
In its announcement, AM Best notes that: "Conduit Re's management have demonstrated its ability to adapt to market conditions, whilst achieving key objectives. The revision of the outlooks to positive from stable reflects AM Best's expectation that Conduit Re's underwriting profile will continue to grow and diversify profitably."
Trevor Carvey, Chief Executive Officer, commented:
"We are proud to be recognised by AM Best for our progress and delivery of our strategic objectives as an organisation. This recognition is evidence of our significant achievements over the last four years and the favourable reception we have received in the market."
The full announcement from AM Best can be viewed here:
AM Best Revises Outlooks to Positive for Conduit Reinsurance Limited
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