S&P Global Ratings has assigned A+ financial strength ratings to PartnerRe Life Reinsurance Co. of America and PartnerRe Life Reinsurance Co. of Canada.

The outlook is stable.

S&P said Partner Reinsurance Co. Ltd. has provided a guarantee for the performance of present and future reinsurance obligations of the two companies. The agency has equalized the ratings on the pair with those on the guarantor because the newly acquired life reinsurance entities benefit from an unconditional and irrevocable guarantee provided by Partner Reinsurance.

The stable outlooks reflect the agency's outlook on Partner Reinsurance and the expectation that the guarantee will remain in force.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.