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Lumen Re gets reciprocal jurisdiction recognition in 37 states according to Artemis
13 May 2024
Artemis writes that Lumen Re, the main reinsurance underwriting vehicle of LGT Capital Partners’ ILS business, has gained reciprocal jurisdiction recognition in 37 US states.
The rating agency AM Best has affirmed the ratings of Lumen Re, with a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) with stable outlooks. In addition, Lumen Re’s recognition as a reciprocal jurisdiction insurer in 37 US states will enable LGT Capital Partners’ ILS team to access and underwrite reinsurance directly in more locations, making Lumen Re an even more important linchpin in its business, Artemis adds.
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