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Bulletin: Hannover Rueckversicherung AG Ratings Unaffected By Board Changes Jan 09
Standard & Poors, Jan 2009
Abstract
FRANKFURT (Standard & Poor's) Jan. 22, 2009--Standard & Poor's Rating Services said today that its ratings and outlook on Germany-based composite reinsurer Hannover Rueckversicherung AG and its core entities (collectively Hannover Re [AA-/Stable/--]), which are majority owned by Germany-based Talanx AG (Talanx; core insurance operating entities: A+/Stable/--), are unaffected by changes to the group's executive board announced yesterday. Hannover Re's management team and its corporate strategies are positive rating factors. Although changes in any insurer's executive board generally result in some uncertainty, in Hannover Re's case we expect a smooth transition and continuity in the group's corporate strategy and execution. The ratings on Hannover Re reflect the group's strong enterprise risk management and very strong competitive position, combined with effective...
Companies mentioned in this report are: Hannover Rueckversicherung AG,Talanx AG
Action: Bulletin
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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