Research Update: Transamerica International Reinsurance Ireland 'AA-' Ratings Placed On CreditWatch Negative On Planned Sale To SCOR SE
- Language: English
- Published: April 2011
- Region: Global, Ireland
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Research type: News
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AEGON N.V. (AEGON) has announced that it has entered into an agreement with SCOR SE to sell its Transamerica Reinsurance business, including Transamerica International Reinsurance Ireland Ltd. (TIRI). As a result, we have placed our 'AA-' counterparty credit and insurer financial strength ratings on TIRI on CreditWatch with negative implications. We will likely resolve the CreditWatch when the transaction closes, which we expect will be in the summer of 2011. The ratings on AEGON and its other core operating entities are not affected by this transaction (see related article). LONDON (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services said today that it placed its 'AA-' long-term counterparty credit and insurer financial strength ratings on Transamerica International Reinsurance Ireland...
Companies mentioned in this report are: Transamerica International Reinsurance Ireland Ltd.
Action: On CreditWatch:Negative
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Transamerica International Reinsurance Ireland Ltd.