Ratings Roundup: Cologne Re (Dublin), Hannover Re (Bermuda)

A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Cologne Reinsurance Company (Dublin) Ltd. (CRD) with a stable outlook. “The ratings reflect the continued orderly run-off of CRD’ s financial reinsurance portfolio and adequate risk-adjusted capitalization,” said Best. It expects “CRD to maintain risk-adjusted capitalization that is supportive of its current ratings and will continue to monitor the company’ s run-off process through completion.”

A.M. Best Co. has revised the outlook to positive from stable for the issuer credit rating (ICR) of “a” of Hannover Re (Bermuda) Ltd. Best also affirmed the rating and Hannover Re Bermuda’ s financial strength rating (FSR) of ‘A’ (Excellent). The outlook for the FSR remains stable. “The positive outlook on the ICR of Hannover Re Bermuda acknowledges the same rating and outlook on the ICR of its parent, Hannover Rueckversicherung AG (Hannover Re) (Germany),” Best explained. “Hannover Re Bermuda’ s ratings also reflect its strong capitalization, its excellent underwriting performance in 2007 and the continued reinsurance protection and investment management support the company receives from Hannover Re.”