Fitch has assigned an "A-" insurer financial strength rating to Flagstone's Bermuda and Swiss operations
Fitch Ratings has assigned Flagstone Reinsurance Limited (Flagstone Re) and Flagstone Reassurance Suisse SA (Flagstone Suisse) “A-” insurer financial strength (IFS) ratings.
Fitch has also assigned Flagstone Reinsurance Holdings (FSR) a “BBB+” issuer default rating. The rating outlook is stable.
According to Fitch, the ratings reflect Flagstone’s capital strength, well-designed risk management practices and operating platforms, and the capabilities of the company’s experienced management team.
Additionally, Flagstone’s capital adequacy exceeds that required for an “A-” IFS rating by a significant margin.
Flagstone chairman Mark Byrne said; “One of our key financial goals is to obtain and maintain multiple credit ratings at the A level. These ratings from Fitch on both our Bermuda and Swiss operating companies, represent significant progress towards that goal.”