OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has withdrawn the financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of “a-” of Cologne Reinsurance Company (Dublin) Limited (Dublin, Ireland) and assigned an NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR. Concurrently, A.M. Best has withdrawn the FSR of A++ (Superior) and ICR of “aa+” of General Reinsurance UK Limited (United Kingdom) and assigned an NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR.
All policyholder obligations for these companies have been transferred to other rated affiliates within the group. General Reinsurance UK Limited has been dissolved, and it is expected that Cologne Reinsurance Company (Dublin) Limited will be dissolved in the near future. No other companies and/or ratings within the group are affected by these actions.
The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Methodologies can be found at www.ambest.com/ratings/methodology.
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