AM Best Affirms Top Layer Reinsurance Ratings With Stable Outlook

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2▲1 ▼0Impact / 5
Summary · why it matters

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Top Layer Reinsurance Ltd., with a stable outlook. The ratings reflect Top Layer's strong balance sheet, adequate operating performance, neutral business profile, and very strong enterprise risk management. They also incorporate substantial support from co-owners State Farm Mutual Automobile Insurance Company and Renaissance Reinsurance Ltd., including a $3.9 billion excess of $100 million stop-loss reinsurance protection provided by State Farm Mutual. Since its inception in 1999, Top Layer has generated solid operating results with only two loss-making years, benefiting from RenaissanceRe's property catastrophe underwriting expertise and its focus on high excess layers of non-U.S. property catastrophe risks.

Impact on assets 1

Climate Adaptation & Water▲ · 1 stocks
Renaissancere Holdings Ltd
RNR
▲ PositiveCapitalrelevance

RenaissanceRe is a co-owner and provides underwriting expertise, and the affirmation reflects positively on its subsidiary's stability.

Off-coverage companies 2

Top Layer Reinsurance Ltd.Private▲ Positive
Capitalrelevance

AM Best affirmed Top Layer's ratings with stable outlook, reflecting strong balance sheet and performance.

State FarmPrivate± Mixed
relevance

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