AM Best has affirmed the issuer credit rating of “bbb+” and all debt ratings of QBE.
Concurrently, AM Best has affirmed the financial strength ratings of “A” (Excellent) and the ICRs of “a+” of QBE Insurance Europe, QBE Insurance International and QBE Reinsurance. The outlook for all ratings is stable.
These rating actions remove the under review status of the ratings, which was applied on 5 January 2007 to enable AM Best to assess the combined impact of the planned acquisitions of Praetorian Financial Group and Winterthur US Group.
AM Best has completed its consolidated analysis of the proposed transactions and believes that QBE is likely to maintain excellent risk-adjusted capitalisation factoring both acquisitions and future operating performance.
