A.M. Best Revises Outlooks to Stable and Affirms Credit Ratings of RenaissanceRe Holdings Ltd.
In addition,
Concurrently,
The ratings of RenRe reflect its balance sheet strength, which
Partially offsetting these strengths is RenRe’s exposure to high severity losses associated with catastrophe events around the globe. In addition, the global reinsurance market, and specifically the property catastrophe segment, has experienced overcapacity and pricing pressures over the past few years that in turn has placed pressure on overall returns.
The ratings of DaVinci reflect its balance sheet strength, which
The following Long-Term IRs have been affirmed with the outlooks revised to stable from negative:
RenaissanceRe Holdings Ltd.—
-- “bbb” on
-- “bbb” on
-- “a-” on
-- “a-” on
The following indicative Long-Term IRs under the shelf registration have been affirmed with the outlook revised to stable from negative:
RenaissanceRe Holdings Ltd.—
-- “a-” on senior unsecured
-- “bbb+” on subordinated
-- “bbb” on preferred stock
RenaissanceRe Capital Trust II—
-- “bbb” on trust preferred securities
The following Long-Term IR has been assigned with a stable outlook.
-- “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
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