AM Best Withdraws Bermuda’s Berking Re Credit Ratings

KUALA LUMPUR, Jan 16 (Bernama) -- Global credit rating agency, AM Best has withdrawn the financial strength rating of C+ (Marginal) and the long-term issuer credit rating of “b-” (Marginal) of Bermuda’s Berking Re Limited (Berking Re).

In a statement, AM Best said at the time of the withdrawal, the credit ratings (ratings) were under review with negative implications.

The rating withdrawals follow Berking Re’s request due to its strategic decision to discontinue its participation in AM Best’s interactive rating process.

AM Best’s procedure is to issue a final rating opinion in conjunction with a rating withdrawal; however, in this case, insufficient financial and business information precluded such an assessment.

Headquartered in the United States, AM Best operates in more than 100 countries and maintains regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore, and Mexico City.

-- BERNAMA