Zurich Re’s ‘AA’ Affirmed

The “AA” insurer FSR and counterparty credit rating of Zurich Ruckversicherung, also known as Zurich Re, were affirmed by S&P, reflecting the strategic importance of Zurich Re to the Zurich Financial Services Group as well as the strength of both its capital adequacy and business position. Partially offsetting those factors was the company’s marginal operating performance in recent years and the commoditized nature of some of the markets in which it operates. The outlook is negative.