On July 14, 2009, Standard&Poor's Ratings Services affirmed its 'A+' long-term counterparty credit and insurer financial strength ratings on various operating companies belonging to global reinsurer Swiss Reinsurance Company Ltd. (Swiss Re; A+/Stable/A-1). The ratings were subsequently withdrawn at the request of management (see Ratings List below for more details). The withdrawal of these ratings follows the merger of a number of operating companies, or their underlying business, into other rated Swiss Re entities as part of the group's ongoing initiative to streamline its legal structure. Details of the merger activity over the past 12 months are: All of the pre-existing business of Swiss Reinsurance Co. Canada was transferred into Swiss Reinsurance Company Ltd. (Canadian Branch), effective July
