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Article: A.M. Best Upgrades Ratings of Hannover Re and Revises Rating Outlook to Positive.
- Article from:
- Business Wire
- Article date:
- July 16, 2008
CopyrightCOPYRIGHT 2008 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 upgraded the issuer credit rating (ICR) to "a+" from "a" of Hannover Rueckversicherung AG (Hannover Re) (Germany) and its rated subsidiaries. Concurrently, A.M. Best has affirmed the financial strength rating of A (Excellent) of these entities and upgraded the debt ratings either issued or guaranteed by Hannover Re. The outlook on the ICR and debt ratings remains positive, whereas the outlook for the FSR has been revised to positive from stable.
The ratings reflect A.M. Best's expectations that Hannover Re is likely to achieve excellent earnings in 2008, which will further improve its consolidated risk-adjusted capitalisation. ...