A.M. Best Co. has commented that the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the Bermuda-based PartnerRe Group and its members are unchanged following the company’s recent announcements regarding further changes among the executive management team. [See IJ web site – https://www.insurancejournal.com/news/international/2010/07/12/111495.htm].
Best also said that the ICR of “a-” and debt ratings of PartnerRe’s parent, PartnerRe Ltd. are unchanged. The outlook for all of the ratings is stable.
Best explained that it believes that “any potential concerns regarding the number and/or significance of the recent management changes announced at PartnerRe are largely mitigated by the depth of experience, the continuity and the length of the transition period provided.
“In addition, PartnerRe has a very strong enterprise risk management framework, including a well thought out succession plan, which will support the company during this transition. The qualitative strengths of PartnerRe are of particular importance since the company just completed the acquisition of PARIS RE in the last several months.”
For a complete listing of PartnerRe Group and PartnerRe Ltd.’s FSRs, ICRs and debt ratings, got to: www.ambest.com/press/061716partnerre.pdf.
Source: A.M. Best
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