AM Best has downgraded the financial strength rating of Montpelier Reinsurance to A- (excellent) from A (excellent) and the issuer credit rating (ICR) to “a-” from “a”.
At the same time, AM Best has downgraded the ICR of Montpelier Re Holdings to “bbb-” from “bbb” and has downgraded all existing debt ratings.
Ratings have been assigned to all debt securities recently filed under a $1bn shelf registration. All ratings remain under review with negative implications.
AM Best said the downgrades are attributable to deterioration in Montpelier's risk-adjusted capitalisation following losses incurred from Hurricanes Katrina and Rita, which accounted for a substantial level of the company's shareholders' equity at 30 June, 2005.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
