S&P assigns Hemisphere Insurance B-

Standard & Poor's said it assigned its B- insurer financial strength and counterparty credit ratings to Hemisphere Insurance Co. Ltd.

The outlook is stable.

The ratings reflect the insurer's short operating record, very small capital base, some information risk and limited financial flexibility, the agency said.

Supporting the ratings are the insurer's potential to achieve a good competitive position based on management's historical underwriting expertise in its target market, and the insurer's good relationship with external parties and reasonable reinsurance coverage, the agency added.

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