Briefly…Ratings Shift for Swiss Re Canada

Ratings agency A.M. Best has withdrawn rankings for Swiss Re Canada in the wake of the company’s transfer of business to parent company Swiss Re. The agency has assigned Swiss Re Canada an NR5 (not formally followed) rating for its financial strength rating, and an “nr” to its issuer credit rating. The company’s transfer of all business to the Canadian branch of Swiss Re “is part of Swiss Re’s corporate restructuring efforts to streamline operations,” the agency notes in a statement. Swiss Re retains it’s A+ (Superior) FSR and its “aa-” ICR.

This story was originally published by Canadian Insurance Top Broker.