Trans Re Zurich AA rating affirmed by S&P

LONDON - Rating agency, Standard & Poor�s (S&P), has affirmed its long-term �AA� counterparty credit and insurer financial strength ratings on Trans Re Zurich (TRZ). S&P has said its stance reflects TRZ�s status as part of Transatlantic Reinsurance, its strong risk-adjusted capitalisation, and satisfactory operating performance. But on the downside, the agency noted TRZ�s business position, which it said was modest by global standards, though well targeted. S&P�s outlook for the company is that its presence in global reinsurance will remain modest but its operating performance is expected to have improved last year, and to continue being strong this year.