Hamilton: AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-' to Peak Reinsurance North America Ltd. (Peak Re NA) located in Bermuda. The outlook for these credit ratings is stable.

According to BERNAMA News Agency, the ratings are a reflection of Peak Re NA's integration as a member of the primary rating unit, Peak Reinsurance Company Limited (Peak Re) based in Hong Kong. On a consolidated basis, Peak Re shows a balance sheet strength that AM Best evaluates as very strong. The company also demonstrates adequate operating performance, a neutral business profile, and suitable enterprise risk management.

Furthermore, the ratings take into account the neutral impact from its ultimate parent company, Fosun International Holdings Ltd. These factors collectively contribute to the stable outlook assigned to Peak Re NA's credit ratings.