AM Best Co has lifted Montpelier Re’s ratings outlook to “positive” from “stable” and affirmed its financial strength rating at A-, the credit rating agency said.The Bermuda reinsurer posted a first-quarter net loss of $104.3 million, after booking $200 million in catastrophe losses. It has since raised $150 million in fresh capital by selling shares.Best said the ratings for Montpelier “reflect its excellent risk-adjusted capitalisation, solid operating performance, diversified business profile and good competitive position”.“These positive characteristics are the result of an experienced management team and robust enterprise risk management framework,” Best added in its commentary.