LONDON (Standard&Poor's) Nov. 18, 2005--Standard&Poor's Ratings Services said today it placed its 'AA' long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. (Swiss Re) and its core operating companies on CreditWatch with negative implications. At the same time, the short-term 'A-1+' counterparty credit rating on Swiss Re was also placed on CreditWatch with negative implications. The CreditWatch placement follows the announcement by Swiss Re that it has agreed with U.S.-based General Electric Co. (AAA/Stable/A-1+) to acquire the latter's reinsurance operations, GE Insurance Solutions Corp. (GEIS; BBB+/Watch Pos/--; main group operating entities are rated 'A', which factors in the parent's support). "The CreditWatch status reflects the execution risk associated with integrating a group of
