AM Best has revised the implications of the under review status to developing from negative for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Premia Reinsurance Europe S.A.
Premia Re Europe was formerly known as Cowen Reinsurance S.A. but was renamed following its acquisition by Premia Holdings Ltd. (Premia), which was completed on 30 October 2026.
AM Best noted that the ratings reflect Premia Re Europe’s balance sheet strength, which it assesses as very strong, alongside its marginal operating performance, limited business profile and appropriate enterprise risk management.
The ratings agency explained that the revision of the under review status to developing followed Premia’s acquisition of Premia Re Europe.
Premia is a global insurance and reinsurance group specialising in the property/casualty legacy sector, with an established operating footprint in the UK (including Lloyd’s), the US, Bermuda and continental Europe.
AM Best said the ratings of Premia Re Europe are expected to remain under review with developing implications until it gains clarity regarding the new owner’s plans for the entity.
