Serenova Re, a Bermuda-based reinsurer specialising in life and annuity reinsurance solutions, has received an A− Issuer Rating and an A− Insurance Claims Paying Ability rating, both with stable outlooks, from Rating and Investment Information, Inc. (R&I), Japan’s largest credit rating agency.
In its assessment, R&I pointed to the backing of Bain Capital and the wider Federal Life Group as key supports for the firm.
R&I cited Bain Capital’s asset management expertise, insurance industry relationships and access to capital as strengths underpinning the group’s creditworthiness, and reportedly noted Federal Life Group’s existing reinsurance transactions in Japan and the United States, along with its focus on steady, profitable growth.
The agency also highlighted Serenova Re’s robust risk management practices, strong earning capacity and high degree of risk resilience.
Serenova Re said the public ratings provide an independent assessment of its creditworthiness and an additional way to demonstrate its financial strength to existing and prospective partners.
The firm added that they mark an important step as it builds on its business in Japan and the United States, deepens relationships with insurers and financial institutions, and pursues new opportunities.
Knut Olson, Serenova Re and Federal Life Group Chief Executive Officer, commented, “This is a significant milestone for Serenova Re, and I’m incredibly proud of what our team has accomplished. We’ve built a company that brings together experienced reinsurance professionals, strong investment capabilities and the resources of Bain Capital. Having R&I independently assess our creditworthiness is especially meaningful as we continue to build relationships in Japan and across the region.”
Matt Roche, Serenova Re President, said, “What’s especially exciting about this achievement is the opportunity it creates for deeper conversations with our clients and prospective partners.
“Successful reinsurance relationships are built on trust, collaboration and a shared understanding of long-term objectives. These independent ratings provide another important foundation for those discussions, and we look forward to working alongside our partners to identify opportunities, solve challenges and build solutions that help their businesses move forward.”
