Hannover Re rating unchanged at AM Best following sale
A.M. Best has commented that the financial strength rating of A (Excellent) and the issuer credit rating (ICR) of “a” of Hannover Re will remain unchanged following the company’s announcement that it has agreed to sell Praetorian Insurance Group to QBE Insurance Group.
A.M. Best views this transaction positively as it allows Hannover Re to concentrate on its core reinsurance business.
The ratings agency added that Hannover Re’s prospective consolidated risk-adjusted
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