A.M. Best Removes Cologne Reinsurance Company (Dublin) Ltd. from under Review; Affirms Ratings.OLDWICK, N.J. -- A.M. Best Co. has removed Cologne Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Company (Dublin) Ltd. (CRD CRD See Central Registration Depository (CRD). ) from under review and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-". The outlook on all ratings is stable. These rating actions reflect A.M. Best expectations of an orderly run-off of CRD's financial reinsurance Financial Reinsurance, also known as 'fin re', is a form of reinsurance which is focused more on capital management than on risk transfer. In the non-life segment of the insurance industry this class of transactions is often referred to as finite reinsurance. portfolio. The company ceased to underwrite new business in November 2004. A.M. Best expects CRD's risk-adjusted capitalization to remain supportive of the current rating and to be managed in line with the run-off profile of the company. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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