AM Best assigns rating to GeoVera Reinsurance
GeoVera Reinsurance, part of catastrophe specialist the GeoVera Insurance Group, has secured a financial strength rating (FSR) of A from AM Best. The outlook on the rating is stable.
Cayman-based GeoVera Reinsurance was formed in late 2013 to replace GeoVera Re, which is in the process of being liquidated with all of its assets and liabilities transferred to GeoVera Reinsurance.
AM Best also affirmed the FSR of A of the three other members of GeoVera Insurance Group. The outlook for all ratings is stable.
The rating agency said the rating affirmations “reflect GeoVera’s excellent risk-adjusted capitalisation, strong operating earnings and management’s experience in its market segments”.
It also noted, however, that GeoVera maintains high gross catastrophe leverage and is significantly dependent on reinsurance to reduce this exposure to a manageable level on a net basis.
GeoVera Insurance Group comprises the following members: GeoVera Insurance Company, Pacific Select Property Insurance Company, GeoVera Specialty Insurance Company and GeoVera Reinsurance.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Intelligent Insurer
Newton Media Ltd
Kingfisher House
21-23 Elmfield Road
BR1 1LT
United Kingdom