AM Best has revised the outlook to stable from negative for PartnerRe and its operating subsidiaries on its strong 2012 performance “which demonstrates its ability to deliver results that are among the top of its peers”.The agency affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Partner Reinsurance Company and its affiliates. It also has revised the outlook to stable from negative and affirmed the ICR of “a-” and debt ratings of its parent, PartnerRe Ltd.Concurrently, the agency has upgraded the FSR to A (Excellent) from A-(Excellent) and the ICR to “a+” from “a-” of PartnerRe America Insurance Company (PartnerRe America) (Delaware). The outlook for both ratings has been revised to stable from negative.PartnerRe America has been strategically repositioned to write accident and health business and is supported by a substantial quota share agreement with an affiliate.In addition, AM Best has downgraded the FSR to B++ (Good) from A-(Excellent) and the ICR to “bbb+” from “a-” of PARIS RE Asia Pacific Pte Ltd (ParisRe Asia) (Singapore). Subsequently, the ratings have been withdrawn due to the company’s request to no longer participate in AMBest’s interactive rating process. The company is currently in run off.AM Best said: “The ratings and revised outlook of PartnerRe Ltd and its subsidiaries reflect the group’s strong risk-adjusted capitalisation, strong business profile as a truly global reinsurance organisation and solid 2012 operating performance, which demonstrates its ability to deliver results that are among the top of its peers.“While the 2011 performance dampened long-term averages and brought focus on the company’s enterprise risk management (ERM) processes, AM Best remains confident that PartnerRe Ltd retains the capability and expertise to write a diverse book of business in various global geographies that will drive superior ongoing profitability.”