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Rating agencies down on PartnerRe

Posted On: Aug. 5, 2015 12:00 AM CST

Rating agencies downgraded the rating of PartnerRe Ltd. due to its lack of diversification and seesaw talks with potential suitors, reported Artemis.

The reinsurance firm has been given a negative outlook by Standard & Poor’s Corp., which wrote: "The negative outlook reflects our uncertainty about whether PRE will maintain its overall strategy. The change in ownership could weaken PRE’s business or financial risk profiles during the next 12 months." The firm has also been downgraded by A.M. Best Co. Inc. as well

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