Partners Re Ltd. have been assigned an "A plus (Superior)'' rating from A.M.

Best Co.

The rating reflects Overseas Partners' evolution from its role as a provider of shipper's risk insurance to a multi-line reinsurer with a risk portfolio including many of the world's leading insurers and reinsurers. Shipper's risk products still account for 40 percent of the company's total written premium income, but the Overseas Partners has expanded its other revenue sources.

The positive rating factors are offset by a worldwide overcapacity and soft pricing in property and casualty reinsurance. However the significant portion of the company's premiums continue to be generated through UPS customers insuring shipped parcels, A.M. Best stated.