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Article: A.M. Best Affirms Ratings of Hannover Re; Removes Ratings From Under Review.
- Article from:
- Business Wire
- Article date:
- August 29, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of "a" of Hannover Rueckversicherung AG (Hannover Re) (Germany) and its rated subsidiaries. Concurrently, A.M. Best has affirmed the debt ratings of "bbb+" on the subordinated and the "bbb" on the undated junior subordinated bond either issued or guaranteed by Hannover Re. All ratings have been removed from under review with negative implications and assigned a stable outlook. The ratings were placed under review on 8 November 2005 in connection with the acquisition of Gerling by the parent company, Talanx AG. (See below for a detailed list ...