White Mountains Re Bermuda Ltd. has seen its financial strength rating (FSR) of A- (excellent) and issuer credit rating (ICR) of "a-" withdrawn.

In its place, the subsidiary of White Mountains Re Group Ltd. has been assigned an FSR of NR-5 (not formally followed) and an ICR of "nr" to the ICR of White Mountains Re Bermuda Ltd.

All of the companies are domiciled in Hamilton.

In July 2009, White Mountains Re announced that it would reorganise its reinsurance operations with the in-force business and infrastructure of White Mountains Re Bermuda being transferred to its affiliate, Sirius International Insurance Corporation, which established a branch office in Bermuda to maintain the group's presence in the Island's marketplace.

White Mountains Re Bermuda's loss exposures have been retroceded to White Mountains Re Sirius and upon regulatory approval, the former will be contributed to White Mountains Re Sirius and in run off.

At this time, the remaining liabilities within White Mountains Re Bermuda are not material to the overall organisation; and as a result, the ratings have been withdrawn.