Rating agency A.M. Best has assigned an initial financial strength rating of A (excellent) to Wellington Reinsurance Limited, the new London-based reinsurer.

"The rating reflects the company's superior prospective risk-based capital base, excellent expected financial performance and prospective business profile and experienced management team.

"Offsetting factors include the company's limited range of specialist lines and a reliance on retrocession cover leaving it exposed to the price and availability of such
protection," A.M. Best said in a statement.

The company has been established by Wellington Underwriting plc, which owns 46.3% of the 2002 capacity of Lloyd's syndicate 2020.

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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.