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Moody's Affirms Swiss Re Ratings; Outlook Revised to Stable

Source: Swiss Re

Posted on 19 Mar 2010

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Moody's Investors Service has affirmed the insurance financial strength (IFSR) and debt ratings of Swiss Reinsurance Company Ltd (Swiss Re) and associated companies (IFSR at A1 and see list below for more details) and revised the outlook to stable from negative for long-term ratings. Short-term ratings were also affirmed.

The stabilization of the outlook is driven by the significant progress the Group has made with regard to the de-risking of its Legacy portfolios while recording a small Legacy profit in achieving this; Moody's previous negative outlook was principally driven by the challenge of running off these portfolios. Furthermore, the Group's asset quality and capitalization metrics have improved, and there has been the implementation of a clear focus on core reinsurance activities which continue to perform well.