A.M. Best Withdraws Ratings of Hannover Life Reassurance (UK) Limited
LONDON -- January 3, 2013
A.M. Best Europe – Rating Services Limited has withdrawn the financial
strength rating of A+ (Superior) and issuer credit rating of “aa-” of Hannover
Life Reassurance (UK) Limited (Hannover Life UK) (United Kingdom) following
its conversion into a branch of its parent company, Hannover Rueckversicherung
AG (Germany). The rationale for the conversion is to improve Hannover Life
UK’s capital efficiency and to enhance its service offering to clients.
The methodology used in determining these ratings is Best’s Credit Rating
Methodology, which provides a comprehensive explanation of A.M. Best’s rating
process and contains the different rating criteria employed in the rating
process. Key criteria utilised include: “Risk Management and the Rating
Process for Insurance Companies”; “Understanding BCAR for Life/Health
Insurers”; and “Rating Members of Insurance Groups”. Best’s Credit Rating
Methodology can be found at www.ambest.com/ratings/methodology.
In accordance with Regulation (EC) No. 1060/2009, the following is a link to
required disclosures: A.M. Best Europe - Rating Services Limited Supplementary
A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best
Company. Founded in 1899, A.M. Best Company is the world's oldest and most
authoritative insurance rating and information source. For more information,
Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
A.M. Best Company
Arianna Brina, +(44) 207 397 0330
Associate Financial Analyst
Anandi Nangy-Kotecha, +(44) 207 397 0271
Rachelle Morrow, +(1) 908 439 2200, ext. 5378
Senior Manager, Public Relations
Jim Peavy, +(1) 908 439 2200, ext. 5644
Assistant Vice President, Public Relations
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