Pembroke, Bermuda - 18
December 2024
Pembroke,
Bermuda - 18 December 2024
Conduit Holdings Limited
("CHL"; LSE ticker: CRE)
Comment on AM Best ratings
outlook
AM Best raises Conduit Re's outlook
to "positive" and affirms ratings
CHL, the ultimate parent company of Conduit Re, a
multi-line Bermuda-based reinsurance business, today welcomes the
news that AM Best has affirmed Conduit Re's Financial Strength
Rating of "A-" (Excellent) and Long-Term Issuer Credit Rating of
"a-" (Excellent) and raised the ratings outlook to "positive" from
"stable". In its announcement, AM Best notes that: "Conduit Re's
management have demonstrated its ability to adapt to market
conditions, whilst achieving key objectives. The revision of the
outlooks to positive from stable reflects AM Best's expectation
that Conduit Re's underwriting profile will continue to grow and
diversify profitably."
Trevor Carvey, Chief Executive Officer, commented:
"We are proud to be recognised by AM Best for our progress and
delivery of our strategic objectives as an organisation. This
recognition is evidence of our significant achievements over the
last four years and the favourable reception we have received in
the market."
The full announcement from AM Best can be viewed
here:
AM Best Revises Outlooks to Positive for Conduit Reinsurance
Limited
Media contacts:
H/Advisors Maitland - Vikki Kosmalska / Genevieve
Ryan
+44 (0) 207 379 5151
conduitre@h-advisors.global
Investor relations and other
enquiries:
brett.shirreffs@conduitre.bm
Panmure Liberum (Joint Corporate
Broker)
+44 (0) 207 886 2500
Berenberg (Joint Corporate
Broker)
+44 (0) 203 207 7800
Peel Hunt (Joint Corporate
Broker)
+44 (0) 207 418 8900
About Conduit Re
Conduit Re is a Bermuda-based multi-line reinsurance
business with global reach. Conduit Reinsurance Limited is licensed
by the Bermuda Monetary Authority as a Class 4 insurer. AM Best has
assigned a Financial Strength Rating of A- (Excellent) and a
Long-Term Issuer Credit Rating of a- (Excellent) to Conduit
Reinsurance Limited. The outlook assigned to these ratings is
positive.
Conduit Holdings Limited is the ultimate parent of
Conduit Reinsurance Limited and is listed on the London Stock
Exchange (ticker: CRE). References to "Conduit" include Conduit
Holdings Limited and all of its subsidiary companies.
Learn more about Conduit
Re:
Website: https://conduitreinsurance.com/
LinkedIn:
https://www.linkedin.com/company/conduit-re
Neither the content of Conduit's website, nor the
content on any website accessible from hyperlinks on its website
for any other website, is incorporated into, or forms part of, this
announcement nor, unless previously published by means of a
regulated information service, should any such content be relied
upon in reaching a decision as to whether or not to acquire,
continue to hold, or dispose of, securities in Conduit Holdings
Limited.
