Fitch rates Hannover Re loan notes A+

Fitch Ratings said it affirmed Hannover Rueck SE's (Hannover Re) and reinsurance subsidiary E+S Rueckversicherung AG's (E+S Re) insurer financial strength ratings at AA- (very strong) and Hannover Re's long-term issuer default rating at A+.

The outlooks are stable.

The agency also assigned Hannover Re's senior loan notes due 2028 an A+ rating, in line with the issuer default rating.

Fitch simultaneously affirmed Hannover Finance (Luxembourg) SA's €500 million subordinated notes due 2040 and €500 million subordinated notes due 2043 at A-. Both issues are guaranteed by Hannover Re on a subordinated basis. Hannover Re's €500 million 3.375% perpetual subordinated notes were also affirmed at A-.

Fitch said the affirmations reflect Hannover Re's very strong business profile, risk-adjusted capitalization and financial performance, particularly from the core property & casualty (P&C) reinsurance business.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.