Verdant Rock Limited, a Bermuda-based Class 3B insurer and financial guarantor focused on emerging markets, has closed a 30% quota share reinsurance treaty with a panel of leading global reinsurers. The panel carries an average financial strength rating of A+ from either AM Best or S&P. This agreement, announced on 14 September 2026, comes less than a year after Verdant Rock received its Class 3B insurance license from the Bermuda Monetary Authority, marking a significant milestone for the young company.
The treaty supports Verdant Rock's portfolio of irrevocable, unconditional and on-demand financial guarantees on private corporate, structured and project finance exposures across emerging markets. By sharing 30% of risk with highly rated capacity providers, Verdant Rock further strengthens its balance sheet, diversifies its capital base and enhances scalability for future growth. This is crucial because it means that every guarantee Verdant Rock issues now carries an additional layer of security from counterparties that have spent time understanding and believing in the company's underwriting framework.
Tolga Uzuner, Co-Founder and Chief Executive Officer of Verdant Rock Limited, commented: "Securing a reinsurance panel of this caliber, rated A+ on average, at this stage of our development is a strong validation of our underwriting framework and our approach to governance. Every guarantee Verdant Rock issues now carries an additional layer of security from counterparties that have spent time understanding and believing in what we are building. We are grateful to each panel member for their confidence in us."
The implications of this announcement are significant for several reasons. First, it enhances the credit quality of Verdant Rock's guarantees, which are designed to qualify as eligible credit protection under Basel and major insurance solvency regimes for banks, insurers and institutional investors globally. With the backing of an A+ rated reinsurance panel, these guarantees become more attractive to regulated financial institutions seeking capital relief. Second, it allows Verdant Rock to scale its operations more efficiently, as the reinsurance treaty provides capacity to write more business without proportionally increasing its own capital requirements. This is particularly important in emerging markets where demand for credit enhancement is high but supply of highly rated guarantors is limited.
Verdant Rock currently holds a BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings. The reinsurance treaty with an A+ rated panel may also positively influence future rating assessments, as it demonstrates the company's ability to access high-quality reinsurance capacity. The company focuses on private liabilities and does not cover sovereigns, municipalities or provinces. Its remit covers bonds and loans issued by emerging market corporations and banks, structured financings, asset-backed (ABS) and mortgage-backed (MBS) exposures in securities or loan format, and project finance. By securing this treaty, Verdant Rock is better positioned to serve these markets and contribute to economic development by facilitating access to credit.
This announcement is for information only and not an offer or solicitation to buy or sell any security, insurance product, or financial guarantee. Forward-looking statements are not guarantees of future results, and Verdant Rock undertakes no obligation to update them. A credit rating is not a recommendation to buy, sell or hold any security and may be subject to revision, suspension or withdrawal at any time by the assigning rating agency.
