Bermuda-based Wind River Reinsurance Company Ltd., a subsidiary of Global Indemnity plc since its formation in 2006, has changed its name to Global Indemnity Reinsurance Company Ltd.”

Global Indemnity Re provides property and casualty reinsurance and retrocessional capacity predominantly in the Bermuda market.

Global Indemnity Re’s wholly owned affiliates in the US, Diamond State Group, Penn-America Group, United National Group, J.H. Ferguson & Associates and Collectible Insurance Services, LLC, provide commercial and certain personal lines property and casualty insurance products and services, in each case targeting specific markets and distribution channels.

A.M. Best recently affirmed the reinsurer’s financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” under its previous name, together with its US subsidiaries, as well as the ICR of “bbb” of the ultimate parent holding company, which is based in Dublin, Ireland.

Best has also affirmed the indicative ratings on the shelf registration of “bbb” on senior unsecured debt, “bbb-” on subordinated unsecured debt and “bb+” on the preferred stock of Global Indemnity.

The outlook for all ratings is stable.

The ratings reflect the company’s “strong capitalisation and financial flexibility; improving underwriting results and its dedication to risk management to better contain catastrophe losses,” Best explained.

“The company’s strong capital position is reflective of its limited premium base and conservative balance sheet, as well as the support and financial flexibility provided by Global Indemnity.

“The ratings also recognise the historical profitability of the reinsurer’s US subsidiaries, which operate under one intercompany reinsurance pooling agreement.”