A.M. Best Affirms Credit Ratings of Pfizer Captive Blue Whale Re Ltd.
March 28, 2017
A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" of Blue Whale Re Ltd. (Blue Whale). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Blue Whale's strong risk-adjusted capitalization and conservative operating strategy. The ratings also consider the company's critical and central role and favorable profile as part of the Pfizer Group, as well as the excellent operations performance. Partially offsetting these positive rating factors are Blue Whale's very large gross and net underwriting exposures to property losses and its dependence on reinsurance.
Domiciled in Vermont, Blue Whale is a single-parent captive of Pfizer Inc. (Pfizer) [NYSE: PFE], a leading global pharmaceutical company. As Blue Whale reinsures Pfizer's global property exposures, it plays an important role in Pfizer's overall enterprise risk management and assumes a critical role in protecting the Pfizer Group's assets. Thus, Blue Whale benefits from Pfizer Group's extensive risk management and loss control programs.
March 28, 2017
