Ratings of Hannover Re Group's subsidiaries

Company nameA.M. Best
Rating
A.M. Best
Outlook
Standard & Poor's
Rating
Standard & Poor's
Outlook
Hannover Rück SE A+ stable AA- stable
E+S Rückversicherung AG A+ stable AA- stable
Hannover Re (Ireland) DAC A+ stable AA- stable
Hannover Re (Bermuda) Ltd. A+ stable AA- stable
Hannover Reinsurance Africa Ltd.* -- -- A- stable
Hannover ReTakaful B.S.C. (c) -- -- A+ stable
Hannover Life Reassurance Co. of America A+ stable AA- stable
Hannover Life Reassurance Bermuda Ltd. A+ stable AA- stable
Hannover Life Reassurance of Australasia Ltd. -- -- AA- stable
Hannover Life Reassurance Africa Ltd.* -- -- A- stable
International Insurance Co. of Hannover SE A+ stable AA- stable

*Hannover Reinsurance Africa Ltd. and Hannover Life Reassurance Africa Ltd. benefit from parental guarantees issued by Hannover Rück SE (the “Guarantor”). The guarantees cover all of the payment obligations of HR SA and HLR SA in respect of insurance and reinsurance contracts issued by them. The guarantees are unconditional and continuing and shall be binding upon the Guarantor. The owners of the insurance and reinsurance contracts issued by these subsidiaries are express third party beneficiaries of these guarantees. The obligations of the Guarantor under these guarantees rank pari passu with all other unsecured indebtedness of such Guarantor.