A.M. Best Co. issued a brief comment following the announcement that Swiss Re has agreed to acquire CNA Financial Corporation’s life insurance book of business (See IJ Website Feb.5), indicating that it plans no changes in the company’s ratings.
“The financial strength rating of “A+” (Superior) of Swiss Reinsurance Company (Swiss Re) and its core subsidiaries remains unchanged following the announcement,” said Best. It added that the rating outlook remains stable and noted that the acquisition was still subject to regulatory approvals.
It also recognized that the acquisition was in-line with Swiss Re’s strategy in the United States, “to expand its Admin Re portfolio whereby it acquires companies or blocks of business for run-off.”
Was this article valuable?
Here are more articles you may enjoy.
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
Oil Trader CFOs Say Hormuz Closure Driving Wave of Disputes 
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
