Financial Services Industry
Industry: Email Alert RSS FeedSwiss Re downgrade raises questions. (Re/International).
National Underwriter Property & Casualty-Risk & Benefits Management, August, 2003 by Howard, Lisa S.
London Standard & Poor's rationale for the recent downgrade of Swiss Re from a double-A-plus" to a "double-A" has been questioned by some reinsurance market observers. In the downgrade announcement issued on July 28, S&P said: "The downgrade primarily reflects a re-evaluation by [S&P] of reinsurance industry risk and Swiss Re's position within that industry following the relative underperformance in its non-life underwriting profitability,." If Swiss Re is being downgraded due to a re-evaluation of reinsurance industry risk, then surely other reinsurers should have been downgraded as well, contended several analysts of the industry.
"If Standard & Poor's downgrades Swiss Re for industry reasons, it is somewhat strange that there's not a downgrade for...
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