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It is imperative that we are able to pay claims as the result of a catastrophic or day-to-day loss event.  This is why AMIE takes on a conservative approach to buying reinsurance, ensuring that the exchange remains financially strong and able to pay members’ claims.    Reinsurance, which simply put, is insurance for insurance companies, and provides AMIE with coverage to withstand losses from catastrophic events like hurricanes and tropical storms.

AMIE is an “admitted” insurance entity regulated by the Florida Office of Insurance Regulation (FL OIR) and is subject to the same laws, regulations and capital requirements as every other Florida domestic insurance company. AMIE’s reinsurance program is comprised of financially secure, highly rated global reinsurance companies rated A- or better by A.M. Best.

Reinsurer Financial Information

ReinsurersDomicile State/CountryA.M. Best RatingS&P RatingSurplus (USDmn)
United States
Axis Reinsurance CompanyNYAA+910.2
Everest Reinsurance Company

Bermuda
DEA+A+4,205.0
Chaucer Insurance Company DAC (Bermuda Branch)IRELANDAA-100.0
Fidelis Insurance Bermuda LimitedBERMUDAAA-990.2
Financial data on this report obtained from AM Best and S&P. A.M. Best Effective Date means the date the AMB Rating was assigned or last affirmed. S&P Rating Date means the date that S&P assigned or last affirmed the rating.

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