Moody's has upgraded the insurance financial strength rating (IFSR) of Hannover Reinsurance...
Moody's has upgraded the insurance financial strength rating (IFSR) of Hannover Reinsurance to A3, from Baa1.
The IFSR of Hannover Re's subsidiary E&S Rückversicherungs was also upgraded to A3 from Baa1.
The ratings agency said that the IFSR upgrade reflected the continued substantial improvement in Hannover Re's financial profile, through the reduction in operating leverage, an improved solvency margin, and increases in shareholders' equity.
The upgrade also reflected a continuation of credit strengths, including its strong market acceptance and demonstrated underwriting skill, Moody's said.