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Bermuda operations become more strategically important for Zurich-based company

The agency said the upgrade reflected fiscal strength improvement as a result of the CIT

Calix Re’s parent company is an Australian annuities giant

Rating agency sees heavier use of reinsurance and more complex investment strategies

Corporate income tax windfall seen boosting island’s fiscal future

Steady growth and strong finances led by corporate income tax offset global risks

AM Best said the outlook for both credit ratings is positive

David Burt says the island has entered new fiscal era with the corporate income tax

Solid capitalisation and underwriting profitability highlighted for five firms in report

Agency cites derisking and consistent performance

Island’s improved economic growth one factor in decision

The credit ratings agency also affirmed the long-term issuer credit ratings of ‘a’ (Excellent)