Standard & Poor's (S&P) has placed its 'AA' long-term counterparty credit and insurer financial strength ratings on Swiss Re and its core operating companies on credit watch with negative implications.
At the same time, the short-term 'A-1+' counterparty credit rating on Swiss Re was also placed on credit watch with negative implications.
S&P said: "The credit watch status reflects the execution risk associated with integrating a group of the size and complexity of GEIS, which has a lower rating than that of Swiss Re."
S&P added that the risks were partly offset by Swiss Re's track record of successful transatlantic acquisitions and the advanced integration planning already in place.
