Standard & Poor’s Ratings Services affirmed its “A+” counterparty credit and financial strength ratings on Employers Reinsurance Corp. and affiliated insurance/reinsurance entities (collectively ERC). The outlook remains negative. S&P additionally affirmed its “A-” counterparty and senior debt ratings on GE Insurance Solutions Corp., an intermediary holding company that serves as ERC’s immediate parent, ultimately owned by General Electric Co.
S&P said ERC has a strong global reinsurance franchise, a moderately improving operating performance and a conservative investment portfolio. The ratings also reflect ERC’s position as a nonstrategic subsidiary of GE. Partially offsetting these factors is uncertainty in the group’s loss reserve position and a lower business mix diversification.
Was this article valuable?
Here are more articles you may enjoy.
McKinsey Rebukes Partner Who Questioned Challenges Facing Women CEOs 
Takeaways From AP Analysis on the Flaws in National Flood Insurance 
Another Crane, Then Another, Collapses Onto Home in Fort Lauderdale 
Florida AG Sues Roofing Firm After Dozens of Complaints About Unfinished Work From This Issue
