Moody's may up Hannover Re

Moody's Investors Service said it placed the financial strength ratings and subordinated debt rating on members of the Hannover Re Group on review for possible upgrade.

On review are Hannover Reinsurance Co.'s Baa1 insurance financial strength rating, Hannover Finance Inc.'s Ba1 subordinated debt rating for its $400 million subordinated bond and E+S Ruckversicherungs AG's Baa1 insurance financial strength rating.

Moody's said that the rating review follows the continued improvement in Hannover Re's financial profile, notably the reduction in operating leverage, improving solvency margin and increase in shareholders' equity.

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