AM Best upgrades outlook for NextEra Energy captive to positive

AM Best has revised the outlook to positive from stable for the long-term issuer credit rating (ICR) of Cayman Islands-domiciled Palms Insurance Company (Palms), while affirming its financial strength rating (FSR) of A (excellent) and long-term ICR of “a” (excellent). The outlook for the FSR remains stable.

AM Best also affirmed the FSR of A- (excellent) and long-term ICR of “a-” (excellent) for Delaware-domiciled Palms Specialty Insurance Company and its reinsured affiliate, Sabal Specialty Insurance Company. The outlooks for these ratings remain stable.