S&P upgrades Montpelier’s ERM rating – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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S&P upgrades Montpelier’s ERM rating

Montpelier Re Holdings Ltd’s enterprise risk management (ERM) rating has been upgraded to “strong” by ratings agency Standard & Poor’s.

The Bermuda reinsurer’s A- financial strength and counterparty credit ratings were also affirmed.

In raising the company’s ERM rating from “adequate with a positive trend” to “strong”, S&P noted “evidence of a strong risk culture throughout all levels of the organisation”.

The agency added: “Moreover, we also consider the firm’s modelling and strategic risk management as strong. The company’s risk culture, governance, and catastrophe risk controls practices are comparable to the best practices among its peers.”

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Published August 30, 2011 at 10:32 am (Updated August 30, 2011 at 10:32 am)

S&P upgrades Montpelier’s ERM rating

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