AM Best has assigned an ‘A' financial strength rating to Hannover Re and its core subsidiaries.
At the same time the ratings agency also affirmed the ‘bbb+' ratings on the subordinated debt issued by Hannover Finance and Hannover Finance, which are guaranteed by Hannover Re, and said the outlook on the ratings has been revised to stable from negative.
In a separate announcement Best affirmed the ‘A' financial strength rating of Hannover Reinsurance Ltd, and removed the company from under review.
The ratings agency assigned an issuer credit rating of ‘a' to the company. Both ratings have a stable outlook.
