Standard & Poor’s affirmed its single-‘A’-plus counterparty credit rating on PartnerRe Ltd. and its double-‘A’ counterparty credit and FSR on Partner Reinsurance Co. Ltd. and PartnerRe SA, which are PartnerRe Ltd.’s core insurance subsidiaries. In addition, S&P’s raised its counterparty credit and FSR on Partner Reinsurance Co. of U.S. to double-‘A’ from single-‘A’-plus because of its status as core to PartnerRe Ltd. The outlook is negative.
The affirmations are based on the improved operating performance of the group of companies (collectively referred to as Partner Re), their rapid rebound in capital adequacy following significant losses in 1999, and the good prospects for the franchise, with hardening markets in most of the segments in which the group is active. Offsetting these positive factors are the weak operating
performance of the growing U.S. franchise and the lower base levels of operating performance as a multi-line reinsurer relative to past periods.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Business Interruption Claims Arising From the Middle East Conflict 
Are ‘Moderate’ Hurricanes Getting Squeezed Out of the Atlantic? 
Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments From This Issue
