Free Submission Public Relations &
Deutsch English


A.M. Best Revises Outlook to Positive and Affirms Ratings of TransRe London Limited

Print article Print article
© Business Wire 2014
2014-04-02 21:47:01 -

A.M. Best has revised the outlook to positive from stable and affirmed the financial strength rating of A (Excellent) and issuer credit rating of “a+” of TransRe London Limited (TRL) (United Kingdom), a wholly owned subsidiary of Transatlantic Reinsurance Company (TRC) (New York, New York, USA).

The ratings are based upon TRL’s strategic importance to the TransRe group of companies. In addition, the ratings reflect the explicit support provided by TRC in the form of a 60% quota share reinsurance agreement and TRC’s guarantee of TRL’s minimum capitalisation level. TRC is expected to provide future support to TRL if required. TRL also benefits from good prospective operating performance and excellent stand-alone risk-adjusted capitalisation.

The positive outlook for the ratings reflects the positive

outlook for the ratings of TRC.

TRL is a newly established operating subsidiary of the TransRe group and was initially capitalised in 2013 with USD 500 million of common shareholders’ equity provided by TRC. The company started writing business on 1 January 2014 with risks that were written by the London branch of TRC being renewed by TRL.

A factor that could result in upward or downward ratings movement is a change in TRC’s financial strength. Additionally, a decline in the support received from the parent could have a negative impact on the ratings.

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. Best’s Credit Rating Methodology can be found at : .. .

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 : .. .

This rating announcement has been issued by A.M. Best Europe – Rating Services Limited, which is a subsidiary of A.M. Best Company.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit : .. .

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

" title="\"/>" target="_blank" rel="nofollow"> ..

Mathilde Jakobsen, +(44) 20 7397 0266Associate Director,

Analytics : orStefan

Holzberger, +(44) 20 7397 0288Managing Director, Analytics : orRachelle

Morrow, +(1) 908 439 2200, ext. 5378Senior Manager,

Public Relations : orJim

Peavy, +(1) 908 439 2200, ext. 5644Assistant Vice

President, Public Relations :

Hossam Abdel-Kader
Phone: +43 1 9582319

Disclaimer: (c) 2014 Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News


Terms & Conditions | Privacy | About us | Contact