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| Date | 16 Dec 2021 |
| Time | 14:50:32 |
| Category | Miscellaneous |
| ID | 9364V |
A.M. Best affirms Conduit Reinsurance Limited's ratings
Conduit Holdings Limited ("CHL" or "Conduit Re") (Ticker:CRE)
Hamilton, Bermuda - 16 December 2021
CHL announces that A.M. Best has affirmed Conduit Reinsurance Limited's Financial Strength Rating of A- (Excellent) and its Long-Term Issuer Credit Rating of "a-" (Excellent), with a stable outlook.
In its announcement A.M. Best said that: "the ratings reflect Conduit Reinsurance Limited's balance sheet strength, which A.M, Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management."
The full announcement from A.M. Best can be viewed here:
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Media contacts
Haggie Partners - David Haggie, Caroline Klein
+44 (0) 207 562 4444
Investor relations and other enquiries:
About Conduit Re
Conduit Re is a pure play global reinsurance business based in Bermuda. Its main operating subsidiary Conduit Reinsurance Limited, is licensed by the Bermuda Monetary Authority as a Class 4 reinsurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" to Conduit Reinsurance Limited. The outlook assigned to these Credit Ratings (ratings) is stable.
Learn more about Conduit Re:
Website: https://conduitreinsurance.com/
LinkedIn: https://www.linkedin.com/company/conduit-re
Twitter: https://twitter.com/Conduit_Re
Important Information
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "estimates", "may", "will", "aims", "could" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects; and (ii) business and management strategies and the expansion and growth of Conduit Re's operations. Forward looking statements may and often do differ materially from actual results. Any forward-looking statements reflect Conduit Re's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Conduit Re's business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward looking statements speak only as of the date they are made. No representation or warranty is made that any forward-looking statement will come to pass. These forward-looking statements speak only as at the date of this announcement. CHL disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by law or regulation.
The Conduit Re renewal year on year pricing change measure is an internal methodology that management intends to use to track trends in premium rates of a portfolio of reinsurance contracts. The change measure reflects management's assessment of relative changes in price, terms, conditions and limits. The calculation involves a degree of judgement in relation to comparability of contracts and the assessment noted above, particularly in Conduit Re's initial years of underwriting. To enhance the methodology, management may revise the methodology and assumptions underlying the change measure, so the trends in premium rates reflected in the change measure may not be comparable over time. Consideration is only given to renewals of a comparable nature so it does not reflect every contract in the portfolio of Conduit Re contracts. The future profitability of the portfolio of contracts within the change measure is dependent upon many factors besides the trends in premium rates.