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Moody's cuts PartnerRe from double-A range
09 February 2012
Bermudian reinsurer knocked out of the double-A range by Moody’s.
Moody’s has downgraded the debt ratings of Bermudian reinsurer PartnerRe to A3 from A2 and the insurance financial strength ratings of its principal operating subsidiaries to A1 from Aa3.
The rating agency said the downgrade is a result of the company's recent earnings volatility and decline in equity capital – a result of outsized 2011 catastrophe losses relative to most of its peers – as well...
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