AM Best has assigned a financial strength rating of A+ (Superior) and issuer credit rating of “aa-“ to Risk Reinsurance Limited (RRL), a captive insurance company of state-owned enterprise Transpower New Zealand Limited. The outlook for both ratings is stable.
According to the rating agency, RRL—domiciled in the Cayman Islands— benefits from its parent’s strict adherence to the New Zealand regulatory risk management framework, enhanced by its integration within its parent’s risk structure.
Additionally, RRL does not insure any third party risks and all investment assets are placed in a conservative and highly liquid portfolio consisting of cash equivalents and bonds.
AM Best, rating, Cayman