A.M. Best Co. has assigned a financial strength rating of "A-" (Excellent) and an issuer credit rating of "a-" to Bermuda-based Hatherley Insurance Ltd. with a stable outlook. "These ratings reflect Hatherley's strong risk-adjusted capitalization, excellent liquidity and conservative operating strategy," said Best. Hatherley is a captive of JPMorgan Chase & Co and plays an "important role" in the group's casualty insurance programs.
Standard & Poor's Ratings Services has assigned its preliminary 'A-' senior debt, 'BBB+' subordinated debt, 'BBB' junior subordinated debt, and 'BBB' preferred stock ratings to RenaissanceRe Holdings Ltd.'s recently filed S-3 $750 million universal shelf registration. S&P said it "does not expect any potential issuances under the shelf to lead to a material change in the group's financial leverage," which remain within its expectations.
