Standard & Poor’s Ratings Services has affirmed its ‘AA-‘ long-term insurer financial strength rating on U.S.-based non-life insurer Coregis Insurance Co., a member of the Swiss Re group, whose core entities are also rated “AA-” with a stable outlook, as is Coregis.
Concurrently S&P said it has withdrawn the ratings at the company’s request, “following the successful completion of Coregis’ merger with affiliate Westport Insurance Corp. (insurer financial strength rating ‘AA-‘/Stable).”
The rating action follows the “2006 acquisition of GE Insurance Solutions Corp. (now renamed Swiss Re Insurance Solutions Holding Corp.; A/Stable/–),” S&P explained. “The decision to merge these two entities is in line with Swiss Re’s ongoing initiative to streamline its global operations and simplify its legal structure.”
Was this article valuable?
Here are more articles you may enjoy.
Secret Codes and Yuan Fees Get Ships Through Iran’s Hormuz Tollbooth 
Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents 
US Doubles Hormuz Reinsurance Guarantees to $40 Billion With New Partners 
Hands-Free Driving Systems Do Not Improve Safety, NTSB Says 
