Citadel Risk Management Ltd

From 1st March 2012 Citadel Risk has been appointed to act on behalf of Legion Insurance Company (in Liquidation) to service and handle all its London-based reinsurance recoveries. Citadel Risk Services UK Limited has appointed a number of new staff and systems to handle this on-going contract. In addition, Citadel Risk Services UK Limited has acquired a new Lloyd’s Run-Off Broker number (1242 CIC). The contract will see Citadel Risk processing, broking and accounting for all of the remaining Legion reinsurance assets to Lloyd’s syndicates as well as the Company market.

Tony Weller and Mike Palmer review life post the new A.M.Best rating.

It is with deep regret that we have to report the death of Sir Arthur Weller CBE, the founder and Chairman of Citadel, who passed away after a short illness on 30 November 2011 aged 82.

On October 20, 2011, Citadel Reinsurance Company, Limited acquired 100% of the share capital of American Millennium Insurance Company. The State of New Jersey has signed off on the Form A filing approving the transaction.

Citadel Risk is pleased to announce the opening of its new London City office - 50 Leadenhall Street, London, EC3A 2BJ Tel: +44(0)20 7947 2860

A.M. Best Assigns Ratings to Great Falls Insurance Company A.M. Best Co. has assigned a financial strength rating of B++ (Good) and an issuer credit rating of “bbb+” to Great Falls Insurance Company (Great Falls) (Auburn, ME). The outlook assigned to both ratings is stable.

Great Falls Insurance Company is majority owned by Citadel Risk, see website link: http://www.citadelrisk.com/companies/

A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Citadel Reinsurance Company Limited (Citadel Re) (Bermuda). The outlook assigned to both ratings is stable.

Click the download for the full A.M. Best report.