Renaissance Reinsurance Ltd and Renaissance Reinsurance of Europe have been affirmed the financial strength rating (FSR) of A+ (superior) and issuer credit ratings (ICR) of “aa-” by AM Best Co.Best has also has affirmed the ICR of “a-” and all debt ratings of RenaissanceRe Holdings Ltd. Concurrently, the ratings agency has affirmed the FSR of A (excellent) and ICR of “a” of DaVinci Reinsurance Ltd and the ICR of “bbb” of DaVinci Re Holdings Ltd.In addition, Best has removed from under review with negative implications and affirmed the FSR of A (excellent) and ICR of “a” of Glencoe Insurance Ltd. The outlook for all ratings is stable.The rating actions reflect RenRe’s superior level of risk-based capitalisation, the strength and depth of its management team and the company’s ability to deliver strong returns over the course of the cycle, Best stated.Furthermore, these rating actions reflect the company’s outstanding risk management techniques. The ratings agency said that RenRe maintained its superior market reputation as a leader in state-of-the-art property catastrophe modelling and risk optimisation, which has attracted capital from outside companies to form several successful joint ventures including DaVinci and Top Layer Reinsurance Ltd.Offsetting these strengths, it said, was RenRe’s exposure to high severity losses associated with catastrophic events on a worldwide basis, as is the case with the first quarter 2011 catastrophes.However, Best said that losses were within RenRe’s stated risk tolerances and Best’s expectations and the company was well-positioned to take advantage of hardening property catastrophe rates.The company’s risk-based capitalisation remained fully supportive of its rating level, and the company continued to have excess capacity that could be deployed.