KBRA Publishes Surveillance Report for Somerset

On August 25, 2023, KBRA upgraded the insurance financial strength rating (IFSR) of Somerset Reinsurance Ltd. to A from A- and the issuer rating of Somerset Reinsurance Holdings Ltd. to BBB+ from BBB. The Outlooks for both ratings were revised to Stable from Positive. In addition, KBRA assigned an IFSR of A with a Stable Outlook to Somerset Reinsurance Company, a newly established Florida domestic reinsurer that will provide a US platform for the group. Collectively, the companies are referred to as Somerset.

To access rating and relevant documents, click here.

Click here to view the report.