AM Best Affirms PartnerRe’s Credit Ratings
AM Best affirms PartnerRe’s A+ [Superior] financial strength and stable outlook, reflecting solid underwriting performance and strong balance sheet strength.
The ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “aa-” [Superior] of the operating subsidiaries of PartnerRe Ltd. [collectively referred to as PartnerRe]. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” [Excellent] of PartnerRe Ltd. [Pembroke, Bermuda]. The outlook of these Credit Ratings [ratings] is stable.
“The ratings reflect PartnerRe’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favorable business profile and appropriate enterprise risk management.
“The rating affirmations reflect PartnerRe’s solid underwriting performance, which has resulted in strong growth in shareholder’s equity in recent years. In 2024, PartnerRe reported reserve strengthening related to U.S. casualty business impacted by social inflation trends, although this was mitigated by strong performance in other areas.
“The FSR of A+ [Superior] and the Long-Term ICRs of “aa-” [Superior] have been affirmed, each with a stable outlook, for the operating subsidiaries of PartnerRe Ltd.:
- Partner Reinsurance Company Ltd.
- Partner Reinsurance Company of the U.S.
- PartnerRe Ireland Insurance Designated Activity Company
- Partner Reinsurance Europe SE
- PartnerRe America Insurance Company
- PartnerRe Life Reinsurance Company of Canada
- PartnerRe Life Reinsurance Company of America
- PartnerRe Insurance Solutions Bermuda Ltd.
