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Transamerica International Reinsurance Ireland 'AA-' Ratings Placed On CreditWatch Negative On Planned Sale To SCOR SE Product Image

Transamerica International Reinsurance Ireland 'AA-' Ratings Placed On CreditWatch Negative On Planned Sale To SCOR SE

  • ID: 1714843
  • April 2011
  • Region: Global, Ireland
  • Standard & Poors

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Abstract
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

Transamerica International Reinsurance Ireland Ltd.

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