AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit ratings of “aa-” (Superior) of the operating subsidiaries of Bermudian-based PartnerRe Ltd.

Concurrently, AM Best has affirmed the long-term ICR of “a-” (Excellent) of the parent company.

The outlook of these credit ratings is stable.

The ratings reflect PartnerRe’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favourable business profile and appropriate enterprise risk management.

AM Best said: “The rating affirmations reflect PartnerRe’s solid underwriting performance, which has resulted in strong growth in shareholder’s equity in recent years.

“In 2024, PartnerRe reported reserve strengthening related to US casualty business impacted by social inflation trends, although this was mitigated by strong performance in other areas.”

The FSR of A+ (Superior) and the long-term ICRs of “aa-” (Superior) have been affirmed, each with a stable outlook, for the operating subsidiaries of PartnerRe Ltd: Partner Reinsurance Company Ltd, Partner Reinsurance Company of the US, PartnerRe Ireland Insurance Designated Activity Company, Partner Reinsurance Europe SE, PartnerRe America Insurance Company, PartnerRe Life Reinsurance Company of Canada, PartnerRe Life Reinsurance Company of America, and PartnerRe Insurance Solutions Bermuda Ltd.