Swiss Re's announcement that it completed its acquisition of GE Insurance Solutions prompted three rating agencies to say they have more work to do and anticipate resolving outstanding watches within days or weeks on the two insurers.
A.M. Best Co., for example, took no immediate ratings actions, but commented that the “A-plus” ratings of Swiss Re Group and its rated entities remain under review with negative implications. The Oldwick, N.J.-based rating firm added that it aims to resolve the “under review” status within four-to-six weeks.
Best has also commented that “A” ratings on newly acquired subsidiaries of GE Insurance (Employers Reinsurance Corporation, GE Reinsurance Corp. and Westport) remain under review with developing implications, as does the “B-plus” of Coregis Insurance Company. Best's “A” ratings on the main operating entities of the GE Frankona Group (Germany) also remain under review with developing implications.
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