November 30, 2015
National Rating Agency has affirmed its national scale ‘AAA’ reliability rating on Barents Re Reinsurance Company, Inc. (Barents Re). At the same time, NRA has raised Barents Re’s global scale credit rating to ‘iA’. The company was assigned NRA’s individual reliability rating of ‘AAA’ and a credit rating of ‘iA-’ in 2014.
Barents Re’s reliability and creditworthiness are supported by its many years’ presence in the market, including some specialty niches, its premium growth, high geographic diversification, persistently low combined ratio in the past few years and conservative investment strategy.
The credit rating upgrade reflects the company’s improved capitalization (its capital and surplus has grown by 28.1% to US$349.6 million during last year), high solvency margin and strong liquidity position (with its liquid assets almost 5 times greater than its debt) and increasing net income.