of PartnerRe Life Insurance Company of the US, Dallas, and its subsidiary Republic-Vanguard Life Insurance Co. under review.

The respected ratings agency added to this list the FPR 3 (Marginal) financial performance rating of a second subsidiary of PartnerRe Life, Investors Insurance Corp.

But the Bermuda-based parent company will keep its A-plus rating.

According to A.M. Best the actions follow the announcement by PartnerRe Ltd., Bermuda, that it plans to sell the three companies -- all subsidiaries of Partner Reinsurance Company of the US -- to SCOR Group, France.

The transaction, which is subject to regulatory approval and expected to close in the second quarter of 2000, is expected to add approximately $1.5 billion of assets and $147 million of gross premiums to SCOR Group.

The acquisition is also expected to provide the group an entry into the largest life reinsurance market, based on gross premiums written, and is consistent with plans to broaden its operating profile in the global life reinsurance market.

The statement said: "Because A.M. Best believes that the group's fundamental rating factors remain unaffected, SCOR Group's core financial strength ratings of A (Superior) are unchanged. The sale allows PartnerRe Ltd. to concentrate on its US non-life initiatives and continue to advance its life reinsurance activities outside the United States.

"A.M. Best does not expect that the sale will significantly affect PartnerRe's principal operations; therefore, the A-plus financial strength rating of its core members is unchanged.''