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A.M. Best Assigns Debt Rating to Lancashire Holdings Limited’s Senior Notes

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned a debt rating of “bbb” to $130 million 5.70% senior unsecured fixed interest notes due in 2022 of the recently filed offering by Lancashire Holdings Limited (Lancashire Holdings) (Hamilton, Bermuda). (LSE: LRE).

The net proceeds from the debt issuance will be used for general corporate purposes.

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: “Insurance Holding Company and Debt Ratings”; “Catastrophe Analysis in A.M. Best Ratings”; “Risk Management and the Rating Process for Insurance Companies”; and “Understanding Universal BCAR.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best Co.
Gale Guerra, 908-439-2200, ext. 5069
Senior Financial Analyst
gale.guerra@ambest.com
or
Robert DeRose, 908-439-2200, ext. 5453
Vice President
robert.derose@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
rachelle.morrow@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

Source: A.M. Best Co.