Rating agency AM Best has downgraded the financial strength ratings of Gerling Global Reinsurance Corporation of America (GGRCA) and its subsidiary, Constitution Insurance Company (CIC), to B+ (very good) from A- (excellent).
The ratings remain under review with negative implications.
The agency said this rating action follows today's announcement by GGRCA's parent, Gerling Konzern Globale Ruckversicherungs, that it is to withdraw from the US non-life reinsurance market as a result of a strategic review of its U.S. operations.
A.M. Best said it remains concerned that further adverse claims development from GGRCA's portfolio could place additional strain on its weakened capitalization.
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.
