The Ascot Guernsey rating was assigned a financial strength grade of A (Excellent) by AM Best on October 22, 2026. The agency also assigned Ascot Insurance Guernsey Limited a long-term issuer credit rating of a+ (Excellent), with a stable outlook for both ratings.
Key Takeaways
- The Guernsey company is a fully reinsured subsidiary of Ascot Bermuda.
- AM Best also affirmed ratings for Ascot Bermuda, six US insurance companies and two senior note issues.
- The agency cited Ascot’s balance sheet strength and support from parent CPP Investments.
Ascot Guernsey rating and group affirmations
Alongside the new Guernsey ratings, AM Best’s rating action affirmed Ascot Bermuda’s A financial strength and a+ long-term issuer credit ratings. The same ratings were affirmed for six members of Ascot Insurance U.S. Group, with stable outlooks.
The affirmed US companies are Ascot Insurance Company, Ascot Specialty Insurance Company, Ascot Surety & Casualty Company, AmFed National Insurance Company, AmFed Casualty Insurance Company and AmFed Advantage Insurance Company.
AM Best also affirmed bbb+ (Good) long-term issue credit ratings on two Ascot senior unsecured note issues. Both have stable outlooks.
| Item | Details |
|---|---|
| Guernsey financial strength | A (Excellent), newly assigned; stable outlook |
| Guernsey long-term issuer credit | a+ (Excellent), newly assigned; stable outlook |
| $400 million notes due 2030 | 4.25% fixed-rate senior unsecured notes; bbb+ affirmed |
| $350 million notes due 2035 | 6.349% fixed-rate reset senior unsecured notes; bbb+ affirmed |
Balance sheet and parent support
AM Best said the Bermuda and US ratings reflect Ascot’s consolidated balance sheet strength, which it assessed as very strong, as well as adequate operating performance, a neutral business profile and appropriate enterprise risk management.
The agency also said Ascot receives a ratings uplift from its parent, Canada Pension Plan Investment Board, known as CPP Investments. CPP Investments has made several capital injections to support Ascot’s growth since acquiring Ascot Underwriting Holdings in 2016.
Ascot Bermuda serves as the group’s Bermuda reinsurance and insurance platform, while the US businesses provide access to excess and surplus and admitted insurance markets. AM Best said both diversify an underwriting portfolio historically concentrated in US property risks through Lloyd’s Syndicate 1414.
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