OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-” PartnerRe Life Reinsurance Company of Canada (Toronto, Ontario) (formerly Aurigen Reinsurance Company), PartnerRe Life Reinsurance Company of America (Little Rock, AR) (formerly Aurigen Reinsurance Company of America) and Aurigen Reinsurance Limited (Bermuda), which are all affiliates of Aurigen Capital Limited (Aurigen). The outlook assigned to the FSR is stable, while the outlook assigned to the Long-Term ICRs is positive.
These rating actions follow the April 3, 2017, announcement that PartnerRe Ltd has completed its acquisition of Aurigen and its affiliate companies. The rating upgrades reflect the improved financial profile, anticipated operational benefits derived from the combined companies and a more committed capital profile, as well as PartnerRe Ltd’s commitment to the life and health space. The Long-Term ICR outlook remains positive upon further assessment of the integration of Aurigen into PartnerRe Ltd’s structure. The ratings of PartnerRe Ltd and its subsidiaries remain unchanged.
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.
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