Rating agencies skeptical on PartnerRe’s future
Thursday, 08 06 2015, Category: Insurance and Reinsurance, Country: World
Reinsurance firm PartnerRe has been downgraded by A.M. Best, who cites a lack of diversification in its business without the AXIS deal. It has also been given a negative outlook by S&P, who said the reinsurer has been distracted by the prolonged back and forth of M&A activity.
Despite the fact that PartnerRe now has more certainty in its future, after Italian investment holding group EXOR S.p.A.’s offer to acquire the reinsurance firm was agreed to earlier this week, rating agency Standard & Poor’s said that this leaves PartnerRe with a degree of uncertainty about its future.