AM Best Places Credit Ratings Under Review With Positive Implications and Withdraws Credit Ratings of CattRe S.A.
AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of CattRe S.A. (CattRe) (Luxembourg). Concurrently, AM Best has withdrawn the Credit Ratings (ratings) as CattRe has requested to no longer participate in AM Best's interactive rating process.
The rating actions are driven by a recent decision to place the company in run-off and merge it into its parent, Assicurazioni Generali S.p.A. (Long-Term ICR of "a+" [Excellent]). The merger is expected to be effective in June 2024, subject to the receipt of regulatory approvals.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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