for Capital Mortgage Reinsurance Company (Bermuda) Ltd. (CMRC Bermuda), a wholly owned subsidiary of Capital Mortgage Reinsurance Company Ltd. (CMRC).

Standard & Poor's affirmed its double A rating for CMRC.

The ratings are based on the companies strong capitalisation base, said Bloomberg business news.

The operations of both companies have been designed to safeguard the intention of management to maintain a conservative risk exposure profile relative to their strong claims paying resources.

CMRC is a subsidiary of Capital Reinsurance Company Ltd. and Capital Credit Reinsurance Company (Bermuda) Ltd., both are subsidiaries of Capital Re Corp.

CMRC and CMRC Bermuda currently offer several mortgage insurance products including quota share reinsurance, variable quota share reinsurance and excess of loss.

CMRC and CMRC Bermuda together reported total statutory capital of $128.9 million at June 30, 1995.

This level, with about $30 million in reinsurance through a consortium of three large reinsurers, provides a superior claims paying capacity, Standard & Poors said.