Validus gets an ‘A’ grade from AM Best

Bermuda reinsurer Validus has had its financial strength rating upgraded from A- to A by rating agency AM Best.

The reinsurer’s issuer credit rating was also upgraded by AM Best from a- to a.

AM Best said that these ratings reflected the reinsurer's ‘solid risk-adjusted capitalization, favourable operating performance since inception, experienced management team, excellent enterprise risk management program and prudent operating strategies.’