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Article: Gerling Global Re's "A", Constitution Re's "A+" Under Review On Announcement of Acquisition Plan.
- Article from:
- Business Wire
- Article date:
- July 30, 1998
CopyrightCOPYRIGHT 1998 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.--(BUSINESS WIRE)--July 30, 1998--A.M. Best Co. today placed the "A" (Excellent) rating of Gerling Konzern Globale Rueckversicherung A.G. under review with developing implications following Gerling's announcement that it plans to acquire Constitution Re Corp. and its subsidiaries. Gerling Global Re also said it will acquire Rex Re, Bermuda.
At the same time, A.M. Best placed the "A+" (Superior) rating of Constitution Re under review with negative implications.
The proposed transaction would enhance Gerling Global Re's presence in the United States and demonstrates the parent company's commitment to the international reinsurance market. During the ...