Moody's Downgrades Swiss Re; Outlook Stable

NU Online News Service, May 27, 3:50 p.m.EDT?Moody's Investors Service has downgraded variousratings of Swiss Reinsurance Company and its subsidiaries by onenotch, citing several challenges facing the reinsurer including thenon-life reinsurance cycle reaching its cyclical peak.[@@]

The ratings actions included the downgrade of Swiss Re'sinsurance financial strength and senior debt ratings to "Aa2" andthe subordinated debt rating to "A1." Additionally, SwissReinsurance America Corporation's insurance financial strength andguaranteed senior debt ratings were also lowered to "Aa2" while itsguaranteed subordinated debt rating fell to "A1." All ratings nowhave a "stable" outlook, Moody's noted.

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