Bermuda – The U.S.‑based rating agency AM Best has upgraded the outlook for Bermuda‑headquartered Sura Re Ltd from stable to positive, while affirming its long‑term issuer credit rating of bbb and financial‑strength rating of B++. The change reflects the company’s solid financial position and continued investment in technology and cyber‑risk underwriting.

Sura Re is a key player in the island’s reinsurance ecosystem, providing cover for a broad spectrum of global insurers. The rating lift is expected to strengthen the confidence of both local brokers and international partners, potentially easing access to capital and supporting the growth of Bermuda’s reinsurance offerings.

Industry observers note that a positive outlook signals resilience in a market that has faced volatility from natural‑disaster losses and shifting regulatory expectations. The upgrade also highlights the effectiveness of Sura Re’s risk‑management strategies and its commitment to maintaining robust capital buffers.

For Bermuda’s insurers and reinsurers, the rating move may translate into lower sourcing costs and greater attractiveness for new business. The island’s financial‑services community will likely view the development as a positive sign for the long‑term health of the sector.