The ratings reflect Premia’s strong risk-adjusted capitalization, disciplined underwriting and experienced management team, established position in the non-life legacy market, financial flexibility and conservative investment strategy. These strengths are partially offset by modest alternative asset exposure, earnings volatility inherent in the non-life legacy business model, and exposure to long-tailed reserve risk.
Premia is a reinsurance group whose strategy is to reinsure reserve portfolios or acquire companies in the non-life legacy insurance and reinsurance market. Premia has operations in Bermuda, the United States, the United Kingdom (including at Lloyd’s of London (AA-/Stable)) and Continental Europe. Premia’s mission is to provide solutions that deliver finality to companies looking to reduce exposure in lines of business or geographies that do not fit their current business plans.
Outlook
The Stable Outlook reflects KBRA’s expectation that Premia will maintain…
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