AM Best affirms Lancashire after due diligence on new underwriters
AM Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of "a-" of Bermudian start-up (re)insurer Lancashire Insurance Company. Concurrently, AM Best has affirmed the ICR of "bbb-" of Lancashire Holdings Limited. All ratings have been removed from under review with negative implications and assigned a stable outlook.
These rating actions follow the completion of AM Best's due diligence process regarding the unexpected departure of vice president J Alex Richards, senior retrocession underwriter, and the
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