LONDON (Standard&Poor's) June 24, 2013--Standard&Poor's Ratings Services said today that its ratings and outlook on Swiss Reinsurance Co. Ltd. (Swiss Re, AA-/Stable/A-1+) are unaffected by the findings of the company's internal review of its life and health reinsurance segment, which were announced today. Swiss Re expects to record a $650 million charge to its economic balance sheet in 2013 to reflect its revised profitability expectations for its pre-2004 U.S. life reinsurance business. Rectifying the underperformance of this business is likely to depress its 2014 results by $500 million under generally accepted accounting principles (GAAP). However, Swiss Re believes that the charge, as well as other management actions to redress the life and health business, will help
