Somerset Reinsurance Ltd. and Somerset Reinsurance Company receive improved credit ratings from AM Best.
Somerset Re and Affiliates Receive Credit Rating Upgrades from AM Best
Somerset Reinsurance Ltd. and Somerset Reinsurance Company have received credit rating upgrades from global credit rating agency AM Best. On July 31, 2025, AM Best upgraded their Financial Strength Ratings from A- (Excellent) to A (Excellent) and their Long-Term Issuer Credit Ratings from “a-” (Excellent) to “a” (Excellent), with stable outlooks for both companies.
These upgrades reflect strong risk-adjusted capitalization at the strongest level, positive core earnings trends, premium growth, an experienced management team, disciplined pricing and investment approaches, and well-developed enterprise risk management programs.
In addition to these upgrades, AM Best assigned a Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent) to Somerset Life Reinsurance Ltd., a new Bermuda-domiciled subsidiary of Somerset Re. This new entity enhances Somerset Re Group’s ability to offer reinsurance solutions to offshore insurance entities preferring a U.S. taxpayer structure.
The upgrades and new ratings emphasize Somerset Re’s solid financial condition, disciplined business execution, and strategic expansion through the new Bermuda entity.
Key Rating Drivers
The ratings for Somerset Reinsurance Ltd. and Somerset Reinsurance Company are underpinned by strong risk-adjusted capital, positive earnings trends, premium growth, an experienced management team, and well-developed enterprise risk management programs. Somerset Re continues to enhance its position in its markets of operation by executing reinsurance agreements each year with known rated insurers.
The rating for Somerset Life Reinsurance Ltd. is based on its strong balance sheet, adequate operating performance, strategic U.S. taxpayer status, and integration with the parent company.
Outlook
The outlook for all three companies is stable. AM Best anticipates capital infusions to continue that will support further new business growth over the intermediate term without the need to access additional funding.
Contact Information
For more information about AM Best, visit www.ambest.com. For media inquiries, contact:
- Al Slavin, Senior Public Relations Specialist, 1 908 882 2318, [email protected]
- Christopher Sharkey, Associate Director of Public Relations, 1 908 882 2310, [email protected]
- Edward Kohlberg, Director, 1 908 882 1979, [email protected]
- Stephen Vincent, Associate Director, 1 908 882 1705, [email protected]
AM Best Offices
AM Best has regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore, and Mexico City.
Experience-Related Metrics
Experience-related metrics are showing strong evidence of prudent pricing and investment management discipline.
Sources
- AM Best Press Release: Somerset Life Reinsurance Ltd. Receives Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent) from AM Best
- AM Best Press Release: Somerset Reinsurance Ltd. and Somerset Reinsurance Company Upgraded to A (Excellent) from A- (Excellent) by AM Best
- AM Best Press Release: AM Best Affirms Credit Ratings of Somerset Reinsurance Ltd. and Somerset Reinsurance Company
- AM Best Press Release: AM Best Affirms Credit Ratings of Somerset Life Reinsurance Ltd.
- AM Best Press Release: AM Best Assigns Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent) to Somerset Life Reinsurance Ltd.
- The credit rating upgrades for Somerset Reinsurance Ltd. and Somerset Reinsurance Company from AM Best, coupled with the Financial Strength Rating and Long-Term Issuer Credit Rating assigned to Somerset Life Reinsurance Ltd., are positive news for the organization's financial performance in the cloud of global reinsurance business.
- The performance of Somerset Re Group, as reflected in the upgrades given by AM Best, is attributed to strong risk-adjusted capital, positive earnings trends, premium growth, an experienced management team, and well-developed enterprise risk management programs, demonstrating their significant presence in the reinsurance industry in the cloud.
