Excellent AM Best rating for North End Re – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Excellent AM Best rating for North End Re

Bermuda-based North End Re Ltd has been assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) by AM Best.

The outlook assigned to these credit ratings is stable.

AM Best said the ratings reflect North End Re Ltd’s balance sheet strength, which it assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The agency said the ratings also reflect North End Re Ltd’s plan of making a significant capital investment to keep an appropriate level of risk-adjusted capital, as measured by Best’s capital adequacy ratio, and regulatory risk-adjusted capital.

It added that the company expects to use external and internal revolving lines of credit.

North End Re Ltd has recently closed one transaction, reinsuring $1.6 billion of fixed deferred annuities, the agency said.

AM Best said North End Re Ltd’s parent, Brookfield Asset Management Reinsurance Partners Ltd, is a publicly traded reinsurance company focused on providing capital-based solutions to insurance companies.

BAM Re seeks capital-intensive business to leverage its asset management and sourcing capabilities.

AM Best said BAM Re recently acquired American National Group Inc in an all-cash transaction valued at approximately $5.1 billion.

The agency said North End Re Ltd complements geographically its sister company, North End Re (Cayman) SPC, which also is starting its reinsurance operations.

It added that the company has another sister company, Brookfield Annuity Company, that provides pension risk transfer solutions in Canada.

North End Re: assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent) by AM Best

You must be Registered or to post comment or to vote.

Published November 03, 2021 at 3:50 pm (Updated November 03, 2021 at 4:43 pm)

Excellent AM Best rating for North End Re

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon