Ratings upgrade for JRG Re
A.M. Best has upgraded the ratings of JRG Reinsurance Company to “A (Excellent)” from “A- (Excellent)” and issuer credit rating to “a” from “a-“.
The rating agency also upgraded the issuer credit rating of James River Group Holdings to “bbb" from “bbb-“.
James River Group Holdings and JRG Re are domiciled in Pembroke, Bermuda, while the US companies are based in Richmond, Virginia and Raleigh, North Carolina.
According to A.M. Best, the ratings reflect JRG Re’s strong operating performance and supportive risk-adjusted capitalisation.
The positive rating factors are partially offset by the challenges presented by a competitive casualty reinsurance market, said A.M. Best.
