IAG Re Singapore Pte. Ltd. Assigned ?AA-? Ratings On Core Status To Insurance Australia Group Ltd. Aug 11

Standard & Poors, August 2011

Abstract
MELBOURNE (Standard & Poor's) Aug. 4, 2011-Standard & Poor's Ratings Services said today that it had assigned its 'AA-' issuer credit and financial strength ratings to IAG Re Singapore Pte. Ltd., the Singaporean-based captive reinsurer of the Insurance Australia Group Ltd. (IAG) group. The outlook is stable. IAG Re Singapore Pte. Ltd. commenced operations in 2010 and assumed most of the business of IAG Re Labuan (L) Berhad (A+/Stable) at the start of 2011, to become the ongoing captive reinsurer for the group's risks in New Zealand, the U.K., Thailand, and India, while the group's Malaysian business stays with IAG Re Labuan. Another group company, IAG Re Australia Ltd. (AA-/Stable), provides reinsurance for Australian domiciled business and manages the wider...

Companies mentioned in this report are: IAG Re Singapore Pte. Ltd.,Insurance Australia Group Ltd.
Action: New Rating

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.

IAG Re Singapore Pte. Ltd.,Insurance Australia Group Ltd.

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