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Algemene Levensherverzekering Maatschappij N.V. Dec 04
Standard & Poors, Dec 2004
Abstract
Strategic importance to Swiss Re group; Very strong capitalization; and Strong--albeit declining--earnings. Sole focus on Dutch pension business; and Potential uncertainty over forthcoming regulatory changes. The ratings on Netherlands-based life and health insurer Algemene Levensherverzekering Maatschappij N.V. (ALHM) are based on its strategic importance to Swiss Reinsurance Co. (Swiss Re; AA/Negative/A-1+), as well as its very strong capitalization and strong--albeit declining--earnings. The company's sole focus on the Dutch pension sector and potential uncertainty over regulatory changes in the Dutch life and health sector over the next few years partially offset these strengths. ALHM is a fully integrated unit of the Swiss Re Life and Health Nederland and is strategically important to the Swiss Re group. ALHM represents the group's primary...
Action: Review
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: Full Analysis
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