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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

AM Best Affirms Credit Rating of Mozart Insurance, Ltd.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Mozart Insurance, Ltd. (Mozart) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Mozart’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The stable outlooks reflect Mozart’s ability to report profitable results, allowing its capital base to strengthen over time, while its business strategy consolidates.

Mozart was incorporated in Bermuda on July 12, 2019, and registered as a Class 3A insurer on Sept. 26, 2019. Mozart is owned by Newport International Limited, also incorporated and registered in Bermuda. Mozart assumes risks from Compañía Mundial De Seguros S.A. (Mundial), an insurance company based in Colombia, through retrocession agreements with Mundial’s reinsurers. Retrocession programs include proportional coverages under quota share arrangements provided to the auto line of business (third‐party liability and motor comprehensive insurance), lease tenant renting insurance for direct business on rent guarantees, leases of real estate spaces for residential and commercial buildings and personal accidents, which covers accidental death, disability and medical costs for drivers and occupants of public service vehicles. The scale of the operation, coupled with the geographic concentration in a single country, are factors that limit Mozart’s business profile.

Mozart’s risk-adjusted capitalization stands at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Mozart’s capital base has been strengthened over the years through the reinvestment of earnings; however, dividend payments have limited its growth. The very strong assessment of Mozart’s balance sheet strength recognizes the company’s adequately matched obligations and risk appetite.

The adequate assessment of Mozart’s operating performance reflects the company’s ability to generate profitable results within a short time after initiating operations. Mozart is susceptible to foreign exchange volatility due to the conversion of Colombian pesos, the currency in which all businesses are written, to U.S. dollars, the reporting currency of Mozart in Bermuda. As of year-end 2024, the company reported a positive bottom-line result of USD 12.4 million, driven by premium sufficiency along with investment income. Underwriting performance has been driven by well-contained acquisition expenses despite volatility in claims. AM Best considers Mozart’s ERM to be appropriate, as it is well-integrated into its operations; risk appetite and tolerance are well-defined.

Positive rating actions could take place if Mozart strengthens its capital base over time while maintaining the strongest level of risk-adjusted capitalization through the consistent retaining of earnings. Additionally, positive rating actions could take place if Mozart maintains its solid trend in operating performance. Negative rating actions could occur if the company’s capital base erodes, driven by a deterioration in operating performance or significant cash withdrawals.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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