AM Best Places Credit Ratings of IQUW Re Bermuda Limited Under Review With Positive Implications

AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of IQUW Re Bermuda Limited (IQUW Re) (Bermuda). IQUW Re is a wholly owned subsidiary of IQUW Holdings Bermuda Limited (IQUW), the ultimate holding company of the IQUW group. In addition, AM Best has placed under review with positive implications the Long-Term Issue Credit Rating of “bbb-” (Good) on $170 million senior unsecured notes, due 2035, issued by IQUW.

The ratings have been placed under review with positive implications following the announcement on 29 October 2025 that Starr Insurance & Reinsurance Limited has entered into a definitive agreement to acquire 100% of the IQUW group. The transaction remains subject to regulatory approvals and closing conditions.

The under review with positive implications status reflects the potential financial and operational benefit that IQUW may derive from being part of a significantly larger insurance organisation, which has greater financial strength. The ratings will remain under review with positive implications pending the completion of the transaction and a detailed review by AM Best of IQUW's future business plan.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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