Best Lowers Swiss Re Rating
NU Online News Service, Oct. 17, 4:42 p.m. EDT, London?Swiss Re's financial strength rating has been lowered to "A plus" from "A plus plus " by A.M. Best Co., which also changed the outlook for the company from stable to negative. At the same time, A.M. Best has downgraded the ratings on all debt instruments issued by Swiss Re's group entities.
Despite earnings improvement in the first half of 2003, "Swiss Re's prospective consolidated earnings are unlikely to be supportive of an A plus plus consolidated risk-based capital level throughout the cycle, especially after the reduction suffered from historic levels," said the Oldwick, N.J. ratings agency.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
