AM Best drops its review of PartnerRe’s rating

PartnerRe is no longer under review with developing implications with AM Best, which affirmed its financial strength rating as A+.

AM Best said it catagorised PartnerRe’s balance sheet strength as strongest, with an adequate operating performance, a very favorable business profile and appropriate enterprise risk management.

The move comes the same week that a planned sale of the business to Covéa collapsed. Covea would have acquired the outstanding common shares of PartnerRe from Exor, PartnerRe’s parent.

PartnerRe’s ratings will be assessed in the coming months as part of its annual review process, AM Best said.