OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has commented that the financial strength rating of A (Excellent) and issuer credit rating of “a+” of MS Frontier Reinsurance Ltd (MS Frontier) (Hamilton, Bermuda) are unchanged following the announcement that MS Frontier will reorganize and consolidate the business of its subsidiary, Mitsui Sumitomo Reinsurance Limited (MSRe) (Ireland) and operate on a single platform under a unified brand of MS Frontier Re. The outlook for both ratings is stable. MS Frontier is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, Limited (MSI), and MSI is a subsidiary of MS&AD Insurance Group Holdings, Inc. (both domiciled in Japan).
After analyzing pertinent information, A.M. Best has decided that currently there is no negative impact from the reorganization announcement. A.M. Best will continue to closely monitor the outcome of the consolidation.
A.M. Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world.
For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; ”Catastrophe Analysis in A.M. Best Ratings”; “Rating Members of Insurance Groups”; and “Alternative Risk Transfer (ART).” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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A.M. Best Co.
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Source: A.M. Best Co.