AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of IQUW Re Bermuda Limited (IQUW Re) (Bermuda). IQUW Re is a wholly owned subsidiary of IQUW Holdings Bermuda Limited (IQUW), the ultimate holding company of the IQUW group. In addition, AM Best has placed under review with positive implications the Long-Term Issue Credit Rating of “bbb-” (Good) on $170 million senior unsecured notes, due 2035, issued by IQUW.

The ratings have been placed under review with positive implications following the announcement on 29 October 2025 that Starr Insurance & Reinsurance Limited has entered into a definitive agreement to acquire 100% of the IQUW group. The transaction remains subject to regulatory approvals and closing conditions.

The under review with positive implications status reflects the potential financial and operational benefit that IQUW may derive from being part of a significantly larger insurance organisation, which has greater financial strength. The ratings will remain under review with positive implications pending the completion of the transaction and a detailed review by AM Best of IQUW's future business plan.

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