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AA- Ratings Affirmed on Schweizerische Lebensversicherungs & Rentenanstalt (Swiss Life) Feb 99
Standard & Poors, Feb 1999
Abstract
PARIS (Standard & Poor's CreditWire) Feb. 5, 1999--Standard & Poor's today affirmed its double-'A'-minus insurer financial strength and counterparty credit ratings on Schweizerische Lebensversicherungs & Rentenanstalt (Swiss Life) following the group's reported intention to acquire Lloyd Continental S.A. of France (triple-'Bpi'/--/--) for FFr3.2 billion (about $570 million). While Swiss Life would have to pay for Lloyd Continental's significant goodwill, Standard & Poor's considers this acquisition to be consistent with the Swiss group's expansion plans in Europe. The transaction would not markedly impact Swiss Life's capitalization. With an estimated FFr2.9 billion in gross premiums written in 1998, Lloyd Continental is a leading health insurer in France, marketing its product through an extensive network of 400 agents as well as through brokers....
Companies mentioned in this report are: Swiss Life AG,Lloyd Continental S.A.
Action: Affirmed
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.
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