Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com
Jim Peavy Director, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com
FOR IMMEDIATE RELEASE
LONDON - OCTOBER 13, 2017 11:13 AM (EDT) A.M. Best has placed a number of Credit Ratings (ratings) under review following the release of the updated Best’s Credit Rating Methodology (BCRM). The BCRM is a reorganization of the global credit rating methodology for (re)insurance companies. A.M. Best will continue to assess the companies listed below under the updated BCRM, and will complete any corresponding rating updates in the near term.
The Financial Strength Ratings and Long-Term Issuer Credit Ratings have been placed under review with positive implications for the following companies:
Hannover Re Companies—
Hannover Rück SE (*)
E+S Rückversicherung AG
Hannover Life Reassurance Bermuda Limited
Hannover Life Reassurance Company of America
Hannover Re (Bermuda) Ltd.
Hannover Re (Ireland) Designated Activity Company
International Insurance Company of Hannover SE
Munich Re Companies—
Munich Reinsurance Company (*)
American Modern Surplus Lines Insurance Company
American Alternative Insurance Corporation
American Family Home Insurance Company
American Modern Home Insurance Company
American Modern Insurance Company of Florida Inc.
American Modern Lloyds Insurance Company
American Modern Property and Casualty Insurance Company
American Modern Select Insurance Company
American Southern Home Insurance Company
American Western Home Insurance Company
Great Lakes Insurance SE
Munich American Reassurance Company
Munich Reinsurance America, Inc.
Munich Reinsurance American Corporation (*) (**)
Munich Reinsurance Company of Canada
New Reinsurance Company Ltd.
The Princeton Excess & Surplus Lines Insurance Company
Temple Insurance Company
Swiss Re Companies—
Swiss Reinsurance Company Ltd (*)
First Specialty Insurance Corporation
North American Capacity Insurance Company
North American Elite Insurance Company
North American Specialty Insurance Company
Swiss Re America Holding Corporation (*) (**)
Swiss Re Asia Ltd.
Swiss Re Corporate Solutions Ltd
Swiss Re Europe S.A.
Swiss Re International SE
Swiss Re Life & Health America Inc.
Swiss Reinsurance America Corporation
Washington International Insurance Company
Westport Insurance Corporation
(*) The Long-Term Issue Credit Ratings for securities issued by these companies and associated group companies also are being placed under review with positive implications.
(**) These companies are holding companies; therefore, they do not have a Financial Strength Rating.
The Financial Strength Ratings and Long-Term Issuer Credit Ratings have been placed under review with negative implications for the following companies:
Jubilee General Insurance Company Limited
Life Insurance Corporation (International) B.S.C. ( c )
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.