Conduit Holdings Limited A.M. Best affirms Conduit Reinsurance's ratings (9364V)
16 12월 2021 - 11:50PM
UK Regulatory
TIDMCRE
RNS Number : 9364V
Conduit Holdings Limited
16 December 2021
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:
https://news.ambest.com/presscontent.aspx?refnum=31537&altsrc=9&_ga=2.255200782.744236017.1638791294-1927453631.1604450201
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Media contacts
Haggie Partners - David Haggie, Caroline Klein
+44 (0) 207 562 4444
conduitre@haggie.co.uk
Investor relations and other enquiries:
info@conduitreinsurance.com
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.
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MSCDZMMZDVNGMZM
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December 16, 2021 09:50 ET (14:50 GMT)
Conduit (LSE:CRE)
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