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Montpelier Re Ltd. Provides Update on S&P Ratings
Hamilton, Bermuda – 30 August, 2011 – Montpelier Re Holdings Ltd. (the “Company” or “Montpelier”; Ticker: MRH.BH) announced that Standard and Poor’s has affirmed the BBB counterparty credit rating of Montpelier Re Holdings Ltd. and its A- counterparty credit and financial strength ratings of Montpelier Re unit Montpelier Reinsurance Ltd. with a stable outlook and has upgraded the Company’s Enterprise Risk Management (ERM) to “Strong” from “Adequate with a positive trend”.
An excerpt from the Standard and Poor’s report states that “the evidence of a strong risk culture throughout all levels of the organization and the overall strong risk controls in place are some of the factors that have favorably affected our assessment. Moreover, we also consider the firm's modeling and strategic risk management as strong. The company's risk culture, governance, and catastrophe risk controls practices are comparable to the best practices among its peers.”
The full report is available by subscription from Standard and Poor’s.
Montpelier, through its operating subsidiaries, is a premier provider of global property and casualty reinsurance and insurance products. Additional information can be found in Montpelier's public filings with the Securities and Exchange Commission.
Contacts
Montpelier Re Holdings Ltd.
Investors:
William Pollett, 441-299-7576
SVP, Chief Corporate Development and Strategy Officer and Treasurer;
or
Media:
Jeannine Menzies, 441-299-7570
Corporate Affairs Manager