The ratings reflect the group’s sound risk-adjusted capitalization, improved earnings profile, high-quality and well-diversified investment portfolio, strong liquidity profile, strong ERM framework, and potential benefits from its recently launched Lloyd’s platform. Somers Group’s 2025 BSCR coverage ratio was 196%, which continues to reflect the BMA approved the use of standard capital charges for investments as part of the 2024 BSCR filing. In 2025, Somers Re reported net income of $237.4 million on net earned premium of $1.8 billion. The combined ratio improved approximately 2 points to 95.0%, marking the third consecutive year below 100%, while net written premiums increased to $1.8 billion from $1.7 billion. Earnings remained investment-led, with $200.8 million of net investment income, but underwriting income also increased to $89.1 million. By the end of 2024, Somers Group had nearly completed the derisking of its investment portfolio and attained its 90/10…
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