A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of CRC (Bermuda) Reinsurance Limited (CRC), a direct wholly-owned subsidiary of Canada’s Fairfax Financial Holdings Limited. The outlook for both ratings is stable. “The ratings and outlook reflect CRC’s adequate capitalization, favorable operating and underwriting performance and relatively modest risk profile,” said Best. The majority of premiums written by CRC are ceded from the subsidiaries of Canada’s Northbridge Financial Corporation, a majority owned subsidiary of Fairfax.
Was this article valuable?
Here are more articles you may enjoy.
Accenture Settles With Justice Department Over DEI Policies 
The Nation’s Insurance Laboratory: What Liability Trends in California Mean for the Rest of the Country 
Deutsche Bank Settles Dispute With Ex-Top Manager Schiraldi 
What Do We Remember About 9/11? Whom Do We Remember? 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.