REG - Conduit Holdings Ltd - Comment on AM Best ratings outlook

Conduit HoldingsAnnouncement

18/12/2024 07:00

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RNS Number : 4887Q  Conduit Holdings Limited  18 December 2024

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
(https://news.ambest.com/PR/PressContent.aspx?altsrc=186&RefNum=35576&URatingId=2557301&_gl=1*1mjckwn*_ga*MTE3MzAyMTE1MC4xNzE3Njc4NzE1*_ga_VNWYD5N5NL*MTczNDQyNzI0MC4yMzEuMS4xNzM0NDYwNjQ5LjAuMC4w)

 

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.

 

 

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