Article: S&P Cuts Ratings on Hannover Re and Related Entities to 'AA'.

FRANKFURT, Germany -- Standard & Poor's today lowered its long-term counterparty credit and insurer financial strength ratings on Hannover Ruckversicherungs AG (Hannover Re), E+S Ruckversicherungs AG, International Insurance Co. of Hannover Ltd. (IICH), E+S Reinsurance (Ireland) Ltd., and Hannover Reinsurance (Ireland) Ltd.--all core entities of the German Hannover Re group--to double-'A' from double-'A'-plus.

The ratings on IICH remain on CreditWatch with negative implications pending a full review of the company's stand-alone financial strength in light of its new strategic focus to become the Hannover Re group's carrier for European program business. All ...

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