Reinsurer ratings review

Rating agency downgrades over the last three months focused, in the main, on companies that are going into run-off namely Unionamerica and certain subsidiaries of Odyssey Re. Upgrades were handed out to two Bermudian operations, finite reinsurer Scandinavian Re and property catastrophe reinsurer LaSalle Re as it merged its business into the operations of new owners Trenwick. Mutuelle Centrale de Ré, a medium-sized French reinsurer and Sirius International of Sweden were also upgraded.