AM Best Affirms Credit Ratings of Blue Whale Re Ltd.
OLDWICK, N.J., June 06, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of Blue Whale Re Ltd. (Blue Whale) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Blue Whale's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).
The ratings also reflect Blue Whale's function as the only captive insurer for Pfizer Inc. (Pfizer) [NYSE: PFE], a global pharmaceutical company. As Blue Whale insures or reinsures Pfizer's global property exposures, it plays a strategic and critical role in Pfizer's overall ERM in protecting the Pfizer enterprise's assets. Blue Whale provides substantial retentions in coverages for Pfizer, augmenting significant reinsurance capacity. In recent years of hard market conditions, Blue Whale also has opted to participate in small slices of its catastrophe tower as an economic efficiency for the Pfizer enterprise. It also offers capacity for cyber liability coverage when required by hard market pricing. The reinsurance program is appropriate and diverse, providing ample coverage for all its lines of business. AM Best recognizes the quality of the reinsurers and the substantial financial resources and assistance available to the captive as part of Pfizer. The captive covers low frequency/high severity exposures in which the losses have not compromised its strong operating performance nor profitability of the company.
The stable outlooks reflect AM Best's view that the company will continue to generate operating results that engender supportive capitalization for the ratings. Additionally, AM Best expects Pfizer's ability and willingness to support Blue Whale, an integral part of Pfizer's corporate ERM infrastructure and program, will not change.
AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world. For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.
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 specializing 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.
Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250606932350/en/
Contacts
Kourtnie Beckwith Senior Financial Analyst +1 908 882 1649 kourtnie.beckwith@ambest.com Daniel Teclaw Director +1 908 882 2390 daniel.teclaw@ambest.com Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 christopher.sharkey@ambest.com Al Slavin Senior Public Relations Specialist +1 908 882 2318 al.slavin@ambest.com
Connectez-vous pour accéder à votre portefeuille
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
HSBC Upgrades Dr. Reddy's Laboratories Limited (RDY) to Buy from Hold
On June 5, HSBC upgraded Dr. Reddy's Laboratories Limited (NYSE:RDY) from Buy to Hold, raising the price target to INR1,445 from INR1,235, citing an optimistic outlook for the company in terms of earnings potential and solid market standing. A worker at a biopharmaceutical facility packaging an active pharmaceutical ingredient. HSBC's updated estimates for FY2026 to FY2028 take into account the shifting market tide for semaglutide and gRevlimid. The analysts are waiting for semaglutide to be introduced in Canada, Brazil, and India at the beginning of FY2027, which is a greater leap from their prior hypothesis of a launch only in Canada by Q4 of FY2026. The analysts revised their FY2026 sales figures for Dr. Reddy's Laboratories Limited (NYSE:RDY)'s gRevlimid, noting the growing competition. The adjustment includes a 5.1% decrease in the EPS estimate for FY2026, while the EPS forecast for FY2027 and FY2028 grew by 12% to 13%. According to HSBC analysts, the expected surge in semaglutide sales will strengthen Dr. Reddy's earnings. HSBC assigned a new price target for RDY's American Depositary Receipts (ADR) as well, raising it from $14.44 to $16.90. Dr. Reddy's Laboratories Limited (NYSE:RDY) is a global pharma company based in Hyderabad, India, that makes both branded and generic medicines for a wide range of health conditions. The company operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. While we acknowledge the potential of RDY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
UBS Upholds Buy Recommendation on Deckers Outdoor (DECK)
On June 5, UBS analysts maintained a Buy rating on Deckers Outdoor Corporation (NYSE:DECK) with a price target of $169. The analysts expect Decker's EPS to top market estimates over the coming year as sales projections increase for its Hoka brand. They also anticipate UGG to keep up its record as a major global casual footwear brand. A customer browsing a retail store, finding the perfect footwear for their casual outfits. The analysts were confident that Deckers Outdoor Corporation (NYSE:DECK) could deliver a low double-digit compound annual sales growth. They forecast that this growth could drive Deckers' forward PE ratio over 20x, compared to the present 16.7x. The $169 price target by UBS reflects a 60% upside for DECK. The stock has plummeted nearly 47% over the last six months, which signals a buying opportunity. After discussions with company management on June 4, the analysts were optimistic about Deckers Outdoor Corporation (NYSE:DECK)'s potential for growth. Despite the market showing caution with reference to the Hoka brand's capacity to sustain robust growth, UBS believes that DECK is perfectly tackling concerns about industry competition, evolving fashion trends, and dependence on Clifton and Bondi franchises. The analysts see double-digit revenue growth for Hoka in the next few years. Deckers Outdoor Corporation (NYSE:DECK) designs and markets premium footwear and apparel worldwide with brands like UGG and HOKA. The company was established in 1973 and is headquartered in Goleta, California. While we acknowledge the potential of DECK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Yahoo
4 hours ago
- Yahoo
AM Best Revises Issuer Credit Rating Outlook to Negative for Palmetto Surety Corporation
OLDWICK, N.J., June 06, 2025--(BUSINESS WIRE)--AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of "bb+" (Fair) of Palmetto Surety Corporation (Palmetto) (headquartered in Mount Pleasant, SC). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect Palmetto's balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The revised Long-Term ICR outlook to negative from stable reflects the pressure on Palmetto's overall balance sheet strength assessment, as well as risk management given the challenges related to the timely collection and reporting of its premiums and agents' balances that in 2024, resulted in a reduction in admitted assets and corresponding decline in overall surplus. Concerns related to ERM relate to management's failure to collect its premium in a timely manner and its consequential effects on capital management. Negative rating action could occur if there continues to be volatility of Palmetto's risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), or if the overall balance sheet strength assessment deteriorates further as a result of a continued uptick of uncollected premiums and agents' balances in the course of collection. Additionally, negative rating action could occur if the company fails to strengthen its risk management, accounting and reporting controls resulting in the continued augmentation of uncollected premiums and outstanding agents' balances in the course of collection. Management is aware of the over 90 aging of uncollected premium receivables and has been instituting better collections procedures to improve the overall non-admitted assets for the company. 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 specializing 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 Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Christine DePalma, CPCU, ARM Financial Analyst +1 908 882 1732 Edin Imsirovic Director +1 908 882 2318 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
