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The reasons for the ratings upgrade included an improved view of Essent’s capital adequacy

The company, which commenced operations in 2016, is sponsored by Axis Capital Holdings Ltd and The Blackstone Group

Parent company re-domiciled to Bermuda from the Netherlands this year

Ratings agency cites uncertainty and execution risk

AM Best said the majority of the group’s business is sourced from the United Kingdom, Europe and Bermuda

Parent Fontana Holdings LP is RenaissanceRe’s first joint venture focused on casualty and specialty risk

A Bermuda insurer and reinsurer is sharing an affirmation of strong credit ratings

AM Best also affirms their financial strength and long-term issuer credit ratings

The ratings agency also affirmed the excellent financial strength rating and excellent long-term issuer credit rating

Bermudian-domiciled company acts primarily as an internal reinsurer for its affiliates, Lloyd’s Syndicate 2987 and Brit UW Limited

Agency says Bermudian-based company and its subsidiaries are well insulated from the debt difficulties of CM Bermuda

The international ratings agency Standard & Poors said the upgrade reflects the improvement in balance sheet strength