A.M. Best Co. has downgraded the financial strength ratings to A (Excellent) from A+ (Superior) of Employers Reinsurance Corporation (ERC) (Overland Park, KS) and its affiliated domestic and international non-life and life reinsurance companies. Concurrently, A.M. Best has downgraded the debt ratings to "a-" from "a" for senior debt securities issued by the group's direct parent, GE Global Insurance Holdings Corporation (GE Global). The outlook on all of the above ratings is stable.
The rating actions reflect increased uncertainty as to GE's longer-term commitment to the reinsurance business...
Comments