A.M. Best Removes From Under Review and Upgrades Issuer Credit Ratings of Swiss Reinsurance Company Ltd and Affiliates
The ratings were placed under review with positive implications on 13
The rating upgrades reflect A.M. Best’s opinion that the rating fundamentals of the consolidated Swiss Re group (Swiss Re), as analysed under the updated BCRM, are supportive of the revised Long-Term ICR. The ratings reflect Swiss Re’s balance sheet strength, which
Swiss Re’s balance sheet strength is underpinned by consolidated risk-adjusted capitalisation that is comfortably in excess of what is required for the strongest assessment, as well as excellent financial flexibility.
A.M. Best’s assessment of balance sheet strength takes into account Swiss Re’s announced continuation of its share buy-back programme in the fourth quarter of 2017 and first quarter of 2018, and an expected reduction in earnings in 2017 due to catastrophe losses in the third quarter. For the nine months to
The ratings also reflect Swiss Re’s very favourable business profile as a leading global reinsurer, which is underpinned by a wide product offering and a worldwide distribution system. The group’s reinsurance segment is well-diversified by line of business and geography. Moreover, the group’s product offering is enhanced by the primary non-life insurance business underwritten by its Corporate Solutions division, as well as by the primary life and health closed and open book capabilities of its
The Long-Term ICRs have been upgraded to “aa” from “aa-” and the FSR of A+ (Superior) has been affirmed for
-
Swiss Re Asia Ltd -
Swiss Re Europe S.A. -
Swiss Re International SE -
Swiss Re Corporate Solutions Ltd -
Swiss Re Life & Health America Inc. -
Swiss Reinsurance America Corporation -
Westport Insurance Corporation -
North American Specialty Insurance Company -
North American Capacity Insurance Company -
North American Elite Insurance Company -
Washington International Insurance Company -
First Specialty Insurance Corporation
In addition, an FSR of A+ (Superior) and a Long-Term ICR of “aa”, each with a stable outlook, have been assigned to Swiss Re Portfolio Partners S.A.
The Long-Term ICR has been upgraded to “a” from “a-” for
The following Short-Term IR has been affirmed:
Swiss Reinsurance Company Ltd—
-- AMB-1+ on Euro medium-term notes (EMTN) programme
The following Long-Term IRs have been upgraded:
Swiss Reinsurance Company Ltd—
-- to “aa-” from “a+” on
-- to “a+” from “a” on
ELM B.V.—
-- to “a+” from “a” on
Swiss Re Treasury (US) Corporation—
-- to “aa” from “aa-” on
-- to “aa” from “aa-” on
Swiss Re America Holding Corporation—
-- to “a” from “a-” on
-- to “a” from “a-” on
-- to “a” from “a-” on
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
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171207006190/en/
Director, Analytics
[email protected]
or
Director
[email protected]
or
Manager, Public Relations
[email protected]
or
Director, Public Relations
[email protected]
Source:
Sun Life Financial Inc. Files SEC Form 6-K, Report of Foreign Issuer [Rules 13A-16 And 15D-16]: (Nov. 24, 2017)
Insurance Agent App Wins 2017 ACORD® Insurance Innovation Challenge Award
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News