Rating agency AM Best has warned Goswhawk Re it would review the insurer's rating "promptly", if its strategic review led to a change in management.
In a statement AM Best confirmed the Lloyd's insurer's 'A- (excellent)' rating, despite the company announcing a strategic review.
However it warned that if the review led to a change in Goswhawk Re's management it would review the rating "promptly".
An AM Best statement said: "The rating continues to reflect Goshawk Re's stand-alone financial strength. In AM Best's opinion, the company has a substantial excess of both current and prospective risk adjusted capital relative to the assigned rating.
"Moreover, in analysing Goshawk Re's capital position, AM Best has given no credit for the US $65m capital raised by debt issued at the holding company level. In addition, Goshawk Re is not exposed to losses arising from syndicate 102's 2001 and prior years of account. While some deterioration on the 2002 underwriting year may emerge, this is not expected to be material to Goshawk Re."
