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AM Best, the world’s oldest and most authoritative insurance rating company affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-”. The outlook of these Credit Ratings is stable. The rating signifies that the Company has the capacity to meet its ongoing obligations.
The ratings reflect CRe’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management. CRe’s balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). CRe benefits from a supportive investor base, which has subscribed new capital to fund growth and meet increasing regulatory capital requirements over recent years