Guernsey, 08 December 2020 – The ultimate Shareholder and the Board of Directors of Humboldt Re Ltd., a company domiciled and licensed in Guernsey since 2015, has decided to cease underwriting new business as of 1 January 2021, whilst reviewing strategic options for the ultimate shareholder to unwind its investment.
The company, a rated reinsurer, holds a security rating by A.M. Best of A– with stable outlook. In 2020, Humboldt Re has a YTD gross written premium of USD 109.3 million with total assets of USD 1,021.9 million.
The company, which is underpinned by strong risk-adjusted capital, will continue to meet all its obligations in full compliance with the applicable laws and regulations and under the supervision of the Guernsey Financial Services Commission.
For questions, please contact:
Mark Elliott, CEO - email@example.com