Moody’s Investors Service in New York yesterday upgraded the insurance financial strength rating of American Re-Insurance Company to Aa3 from A2, citing the support of parent company Munich as the main factor driving the change.

The two-notch financial strength rating upgrade, with a one-step boost in the senior debt rating of American Re Corporation–to A2 from A3–concludes a review for possible upgrade that was initiated on July 19, 2005, Moody’s said, adding that the rating outlook is now stable.

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