As a dedicated specialized reinsurance carrier Nationale Borg Re has been active in reinsurance of Bond, Credit Insurance and Political Risk Insurance for over 70 years. Thanks to the extensive expertise of our team of underwriters and our strong rating, we were well-positioned in our markets.
However, times change and we are pleased to announce that on October 2, 2019, Liberty Mutual Insurance Group has completed the acquisition of the Nationale Borg and Nationale Borg Reinsurance businesses, from AmTrust Financial Services.
This transaction will help Liberty Mutual Re to expand its presence in the market for surety-, credit- and political risk reinsurance and it will benefit our valued clients, who will be dealing with a group that has more capacity and an outstanding credit rating.
Nationale Borg Re’s key underwriters will transition into Liberty Mutual Re and become an integral part of their Global Financial Risk Reinsurance Team. With immediate effect, renewals of our current clients will be underwritten by Liberty Mutual Re. Clients will be able to utilise the most appropriate and relevant Liberty Mutual Re balance sheet for their portfolio and region.
All business incepting prior to the closing date will remain with Nationale Borg Re, now a Liberty Mutual company with an A (stable) rating from AM Best, and will continue to be serviced until natural expiry. The management team of Nationale Borg Reinsurance remains unchanged. They will work with a dedicated team to support its cedents.
AM Best Rating Report November 2019
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