NU Online News Service, Feb. 9, 3:07 p.m. EST

Moody's Investors Service has downgraded PartnerRe's insurance financial strength rating to A1 from Aa3 due in part to the catastrophe losses the company suffered relative to most of its peers.

Moody's says the downgrade is also due to “a more conservative assessment of the firm's business profile relative to its larger, more diversified peers.”

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