LONDON–(BUSINESS WIRE)–AM Best has affirmed a Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Nova Casiopea Re S.A. (NCRe) (Luxembourg). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect NCRe’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. NCRe is a pure captive reinsurer of Telefonica,
