AM Best Revises Issuer Credit Outlook to Positive for Palms Insurance Company, Limited; Affirms Credit Ratings of Palms Specialty Group’s Members

AM Best Revises Issuer Credit Outlook to Positive for Palms Insurance Company, Limited; Affirms Credit Ratings of Palms Specialty Group’s Members

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Palms Insurance Company, Limited (Palms) (George Town, Cayman Islands). The outlook of the FSR is stable. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Palms Specialty Insurance Company, Inc. (Palms Specialty) and its reinsured affiliate, Sabal Specialty Insurance Company, Inc. (Sabal Specialty). The outlook of these Credit Ratings (ratings) is stable. Both companies are collectively referred to as Palms Specialty Group and are domiciled in Delaware.