A.M. Best Upgrades Ratings of Polskie Towarzystwo Reaskuracji SA

LONDON--(BUSINESS WIRE)--A.M. Best Europe – Ratings Services Limited has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and issuer credit rating to “a-” from “bbb” of Polskie Towarzystwo Reaskuracji SA (Polish Re) (Poland). The outlook remains stable.

“Risk Management and the Rating Process for Insurance Companies”

The rating actions reflect the new and explicit support provided to Polish Re by its ultimate parent, Fairfax Financial Holdings Limited (Fairfax), in the form of a legal binding guarantee. This provides protection for Polish Re policyholders as Polish Re’s liabilities are guaranteed by Fairfax. The capitalisation, financial performance and business profile of Polish Re remain unchanged.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; “Rating Members of Insurance Groups”; and “A.M. Best’s Ratings & the Treatment of Debt”. Methodologies can be found at www.ambest.com/ratings/methodology.

In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures, A.M. Best Europe - Rating Services Limited Supplementary Disclosure.

A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best Company. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.