Orlando, Florida, September 5, 2012 (BUSINESS WIRE) – Hannover Life Reassurance Company of America “Hannover Life Re”, announced today that A.M. Best Co. has upgraded their financial strength rating to A+ (Superior) from A (Excellent) and issuer credit rating to “aa-“ from “a+”. The outlook for both ratings has been revised to stable from positive.
A.M. Best stated, “The upgrade reflects HLR America’s role as a key global operating subsidiary of Hannover Re Group and also reflect s the adequate risk adjusted capital position, which includes leverage through surplus notes owned by Hannover Re. HLR America continues to be recognized as one of the market leaders in acquiring in-force blocks of business and providing solutions to the life, health and Medicare insurance industries in the United States.”
Peter Schaefer, President and CEO of Hannover Life Re commented, “We are pleased with the rating upgrade and feel it demonstrates our financial strength and commitment to the U.S. market.”
About Hannover Life Re
Hannover Life Reassurance Company of America "Hannover Life Re“, which is licensed and/or accredited in all 50 states and Puerto Rico, is the North American life and health reinsurance subsidiary of Hannover Re Group. Hannover Re, with a gross premium of around 12 billion euro, is the third-largest reinsurer in the world. It transacts all lines of non-life and life and health reinsurance and is present on all continents with around 2,200 staff. Hannover Life Re is rated "AA-“ by Standard & Poor’s and "A+" by A.M. Best. Additional information about the Company can be obtained from its web site at www.hlramerica.com
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Hannover Life Re