On Sept. 25, 2008, Standard&Poor's Ratings Services affirmed its 'AA-' insurer financial strength and long-term counterparty credit ratings on Zurich-based global reinsurer Swiss Reinsurance Co. and its core subsidiaries. The outlook remains stable. The affirmation comes in response to the heightened level of investor queries surrounding the resilience of Swiss Re's financial strength in light of the increased turbulence in global financial markets over the past fortnight. Standard&Poor's expects both Swiss Re's liquidity and capital positions to remain very strong. Swiss Re has a robust liquidity management process in place. The spot liquidity (liquidity sources, excluding committed external funding, readily available to the group treasury function within seven days) currently available to Swiss Re Zurich--the group's
