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Parent Fontana Holdings LP is RenaissanceRe’s first joint venture focused on casualty and specialty risk

A Bermuda insurer and reinsurer is sharing an affirmation of strong credit ratings

AM Best also affirms their financial strength and long-term issuer credit ratings

The ratings agency also affirmed the excellent financial strength rating and excellent long-term issuer credit rating

Bermudian-domiciled company acts primarily as an internal reinsurer for its affiliates, Lloyd’s Syndicate 2987 and Brit UW Limited

Agency says Bermudian-based company and its subsidiaries are well insulated from the debt difficulties of CM Bermuda

The international ratings agency Standard & Poors said the upgrade reflects the improvement in balance sheet strength

Stellar Insurance’s strong operating results are driven by a five-year weighted average combined ratio of 20.7 per cent

The agency said each of the company’s component groups benefit from the financial flexibility provided by Chubb Limited, the publicly traded ultimate parent

The insurer operates in the pension risk transfer markets outside the United Kingdom and the United States

The comparison came during the rating agency’s latest peer review of large global reinsurers

The ratings reflect the company’s consolidated balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management