A.M. Best Places Credit Ratings Under Review Following Updated Best’s Credit Rating Methodology Release

LONDON--(BUSINESS WIRE)-- A.M. Best has placed a number of Credit Ratings (ratings) under review following the release of the updated Best’s Credit Rating Methodology (BCRM). The BCRM is a reorganization of the global credit rating methodology for (re)insurance companies. A.M. Best will continue to assess the companies listed below under the updated BCRM, and will complete any corresponding rating updates in the near term.

The Financial Strength Ratings and Long-Term Issuer Credit Ratings have been placed under review with positive implications for the following companies:

Hannover Re Companies—

• Hannover Rück SE (*)
• E+S Rückversicherung AG
• Hannover Life Reassurance Bermuda Limited
• Hannover Life Reassurance Company of America
• Hannover Re (Bermuda) Ltd.
• Hannover Re (Ireland) Designated Activity Company
• International Insurance Company of Hannover SE

Munich Re Companies—

• Munich Reinsurance Company (*)
• American Modern Surplus Lines Insurance Company
• American Alternative Insurance Corporation
• American Family Home Insurance Company
• American Modern Home Insurance Company
• American Modern Insurance Company of Florida Inc.
• American Modern Lloyds Insurance Company
• American Modern Property and Casualty Insurance Company
• American Modern Select Insurance Company
• American Southern Home Insurance Company
• American Western Home Insurance Company
• Great Lakes Insurance SE
• Munich American Reassurance Company
• Munich Reinsurance America, Inc.
• Munich Reinsurance American Corporation (*) (**)
• Munich Reinsurance Company of Canada
• New Reinsurance Company Ltd.
• The Princeton Excess & Surplus Lines Insurance Company
• Temple Insurance Company

Swiss Re Companies—

• Swiss Reinsurance Company Ltd(*)
• First Specialty Insurance Corporation
• North American Capacity Insurance Company
• North American Elite Insurance Company
• North American Specialty Insurance Company
• Swiss Re America Holding Corporation (*) (**)
• Swiss Re Asia Ltd.
• Swiss Re Corporate Solutions Ltd
• Swiss Re Europe S.A.
• Swiss Re International SE
• Swiss Re Life & Health America Inc.
• Swiss Reinsurance America Corporation
• Washington International Insurance Company
• Westport Insurance Corporation

(*) The Long-Term Issue Credit Ratings for securities issued by these companies and associated group companies also are being placed under review with positive implications.

(**) These companies are holding companies; therefore, they do not have a Financial Strength Rating.

The Financial Strength Ratings and Long-Term Issuer Credit Ratings have been placed under review with negative implications for the following companies:

• Jubilee General Insurance Company Limited
• Life Insurance Corporation (International) B.S.C. ( c )

This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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A.M. Best

Greg Carter, +44 20 7397 0288

Managing Director, Analytics

greg.carter@ambest.com

or

Stefan Holzberger, +1-908-439-2200, ext. 5380

Chief Rating Officer

stefan.holzberger@ambest.com

or

Christopher Sharkey, +1-908-439-2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Jim Peavy, +1-908-439-2200, ext. 5644

Director, Public Relations

james.peavy@ambest.com

Source: A.M. Best