Oct. 20, 2016 21:08 UTC
OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best has placed under review with positive implications the
Financial Strength Rating of A- (Excellent) and the Long-Term Issuer
Credit Ratings of “a-” of Aurigen Reinsurance Company (Toronto,
Ontario), Aurigen Reinsurance Company of America (Little Rock,
AR) and Aurigen Reinsurance Limited (Bermuda). The under review
status follows the announcement that Aurigen Capital Limited
(Aurigen), the parent company of these operating Aurigen companies, has
entered into a definitive agreement to be acquired by PartnerRe Ltd. (PartnerRe),
subject to regulatory approval.
The under review with positive implications status reflects the
potential financial and operational benefits that will be derived from
Aurigen being a significant operation within a larger, higher-rated
organization. The Credit Ratings (ratings) will remain under review
pending the completion of this transaction, and all regulatory filings
have been completed. A.M. Best will continue to monitor the progress of
the transaction until the final close. The ratings of PartnerRe and its
subsidiaries remain unchanged.
This press release relates to Credit Ratings that have been published
on A.M. Best’s website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view Understanding
Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance
rating and information source. For more information, visit www.ambest.com.
Copyright © 2016 by A.M. Best Rating Services, Inc. and/or its
subsidiaries. ALL RIGHTS RESERVED.
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