LONDON--()--A.M. Best Europe – Rating Services Limited has withdrawn the financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of “a-” of Onderlinge Verzekerings Maatschappij Univé Stormher u.a. (Univé Stormher) (Netherlands) following its merger into its affiliate, Onderlinge Verzekerings Maatschappij Univé Her u.a. (Univé Her) (Netherlands), on 5 September 2012. Following the merger, Univé Her was subsequently transformed into a limited company (N.V. Univé Her). The FSR of A- (Excellent) and ICR of “a-” of Univé Her remain unchanged with a stable outlook.
The merged company will be active retrospectively from 1 January 2012. The restructuring is part of the Univé group’s strategy to streamline its reinsurance arm and increase efficiency across the group.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilised include: “Rating Members of Insurance Groups”. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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