Beazley Bermuda Insurance Limited (BBIL), the London-domiciled specialist insurer and reinsurer’s new Bermuda entity, has been assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) by credit ratings agency AM Best.
The outlook assigned to these ratings is stable. The ratings align with AM Best’s assignment of a Preliminary Credit Assessment (PCA) to BBIL in January 2026.
Following the recent reports that Zurich Insurance Group’s offer to acquire Beazley is progressing, AM Best is closely monitoring all Beazley companies’ ratings, which will be further reviewed if and when a binding offer is accepted.
According to AM Best, the ratings reflect BBIL’s “very strong” balance sheet strength, adequate operating performance, neutral business profile, and appropriate enterprise risk management.
The ratings also factor in lift from BBIL’s ultimate parent, Beazley plc (Beazley), reflecting the strategic importance of BBIL to the group.
The Best’s Capital Adequacy Ratio (BCAR) has measured BBIL’s balance sheet strength at the strongest level, underpinned by its risk-adjusted capitalisation, and the understanding that the insurer will follow Beazley plc’s prudent reserving and investment strategy.
BBIL’s risk-adjusted capitalisation will be supported by a large capital base of $531 million at the start of 2026.
BBIL is expected to achieve an adequate operating performance assessment over the medium term, supported by profitable, albeit potentially somewhat volatile, underwriting results despite the softening pricing environment.
Its investment income is expected to contribute meaningfully to the overall earnings, particularly in its initial years of business.
Lastly, BBIL will enable the group to widen its footprint and gain access to Bermuda’s reinsurance market. The company’s portfolio is expected to complement that of Beazley and provide additional diversification over the long term, explained AM Best.
